Klarkowski v. Commissioner
United States Tax Court
1. Character for tax purposes of various real estate transactions determined - whether profit was ordinary income or capital gain. 2. Exchange of improved rental real estate for unimproved real estate to be used for subdivision purposes held not to qualify for nonrecognition of gain under section 1031, I.R.C. 1954. 3. Payments made in settlement of reopened bankruptcy proceeding held not deductible. 4. Amount of deductions for business use of automobile and club dues and…
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1. Character for tax purposes of various real estate transactions determined - whether profit was ordinary income or capital gain. 2. Exchange of improved rental real estate for unimproved real estate to be used for subdivision purposes held not to qualify for nonrecognition of gain under section 1031, I.R.C. 1954. 3. Payments made in settlement of reopened bankruptcy proceeding held not deductible. 4. Amount of deductions for business use of automobile and club dues and charges determined.
1Opinion of the Court
Stanley H. Klarkowski and Estate of Susan Klarkowski, Deceased, Richard H. Thomas, Executor, et al. 1 v. Commissioner.
Klarkowski v. Commissioner
Docket Nos. 3778-62 - 3780-62, 436-65 - 439-65.
United States Tax Court
T.C. Memo 1965-328; 1965 Tax Ct. Memo LEXIS 2; 24 T.C.M. (CCH) 1827; T.C.M. (RIA) 65328;
December 30, 1965
1. Character for tax purposes of various real estate transactions determined - whether profit was ordinary income or capital gain.
2. Exchange of improved rental real estate for unimproved real estate to be used for subdivision purposes held not to qualify for nonrecognition of…
2Cases cited15 opinions
- Burnet v. HarmelSupreme Court of the United States · 1932
- Thrift v. CommissionerUnited States Tax Court · 1950
- MAULDIN v. COMMISSIONER OF INTERNAL REVENUE (Two Cases)Court of Appeals for the Tenth Circuit · 1952
- Walter H. Kaltreider and Irene C. Kaltreider v. Commissioner of Internal RevenueCourt of Appeals for the Third Circuit · 1958
- Mauldin v. CommissionerUnited States Tax Court · 1951
10 more not listed; retrieve them via the Exa API.
3Cited by1 opinion
- Stanley H. Klarkowski v. Commissioner of Internal RevenueCourt of Appeals for the Seventh Circuit · 1967