Legal Opinion
William F. Owen, Jr. Gretchen K. Owen v. Commissioner Internal Revenue Service
Court of Appeals for the Ninth Circuit
Decided August 9, 1989No. 88-7026PublishedCited by 16 opinions
1Opinion of the Court
DAVID R. THOMPSON, Circuit Judge:
William and Gretchen Owen appeal the tax court’s decision denying them certain investment tax credits and forcing them to recognize a taxable gain on a 1981 transfer of equipment. Owen v. Commissioner, 53 T.C.M. (CCH) 1480 (1987). We have jurisdiction under 26 U.S.C. § 7482. We affirm.
I
FACTS
Over the years, William Owen participated in several business ventures with Stephen McEachron. In 1977, they formed a general partnership called McO Investment (“McO”), in which they were equal partners. In 1980, Owen and McEachron entered the seismic drilling business.…
2Cases cited14 opinions
- Crane v. CommissionerSupreme Court of the United States · 1947
- Commissioner v. TuftsSupreme Court of the United States · 1983
- Commissioner v. Asphalt Products Co.Supreme Court of the United States · 1987
- Ridder v. CommissionerUnited States Tax Court · 1981
- Ragnar v. Hokanson and Marilyn L. Hokanson v. Commissioner of Internal RevenueCourt of Appeals for the Ninth Circuit · 1984
9 more not listed; retrieve them via the Exa API.
3Cited by16 opinions
- Borchers v. CommissionerUnited States Tax Court · 1990
- Richard J. Borchers Jane E. Borchers v. Commissioner of Internal RevenueCourt of Appeals for the Eighth Circuit · 1991
- Newman v. CommissionerCourt of Appeals for the Second Circuit · 1990
- Peter Schiff v. United StatesCourt of Appeals for the Sixth Circuit · 1991
- John H. Newman and Claudia C. Newman v. Commissioner of Internal RevenueCourt of Appeals for the Second Circuit · 1990
11 more not listed; retrieve them via the Exa API.