Brauer v. Commissioner
United States Tax Court
P entered into a contract to sell his farm in St. Charles County, Mo., to M for cash. M intended to exchange the St. Charles farm for a 10-acre tract owned by T, who was interested in the St. Charles farm. Before the transaction was consumated, P decided he wanted to exchange the St. Charles farm for Gasconade farm, a "like-kind" property, owned by F. M agreed to acquire Gasconade and trade it, plus cash, to P in exchange for St. Charles farm.
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P entered into a contract to sell his farm in St. Charles County, Mo., to M for cash. M intended to exchange the St. Charles farm for a 10-acre tract owned by T, who was interested in the St. Charles farm. Before the transaction was consumated, P decided he wanted to exchange the St. Charles farm for Gasconade farm, a "like-kind" property, owned by F. M agreed to acquire Gasconade and trade it, plus cash, to P in exchange for St. Charles farm. Due to unforseen circumstances, the transaction could not be completed as planned. M acquired a contract to purchase Gasconade, which it transferred to…
1Opinion of the Court
Arthur E. and Glenda Brauer, Petitioners v. Commissioner of Internal Revenue, Respondent
Brauer v. Commissioner
Docket No. 2825-78
United States Tax Court
74 T.C. 1134; 1980 U.S. Tax Ct. LEXIS 73;
September 3, 1980, Filed
Decision will be entered under Rule 155.
P entered into a contract to sell his farm in St. Charles County, Mo., to M for cash. M intended to exchange the St. Charles farm for a 10-acre tract owned by T, who was interested in the St. Charles farm. Before the transaction was consumated, P decided he wanted to exchange the St. Charles farm for Gasconade farm, a "like-kind" property,…
2Cases cited23 opinions
- Commissioner v. P. G. Lake, Inc.Supreme Court of the United States · 1958
- Commissioner v. DanielsonCourt of Appeals for the Third Circuit · 1967
- Danielson v. CommissionerUnited States Tax Court · 1965
- T. J. Starker v. United StatesCourt of Appeals for the Ninth Circuit · 1979
- William J. Sullivan and Georgia K. Sullivan v. United StatesCourt of Appeals for the Eighth Circuit · 1966
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