Legal Opinion
Allen P. Unvert and Catherine R. Unvert v. Commissioner of Internal Revenue
Court of Appeals for the Ninth Circuit
Decided September 14, 1981No. 79-7602PublishedCited by 31 opinions
1Opinion of the Court
EUGENE A. WRIGHT, Circuit Judge:
Taxpayers appeal from a decision of the Tax Court holding that money paid toward the purchase of condominiums in 1969 and deducted as an interest expense in that year must be treated as income under the tax benefit rule when recovered in 1972. The taxpayers contend that the erroneous deduction exception to the tax benefit rule applies. We affirm.
FACTS
On December 31, 1969, Allen Unvert paid $54,500 to U. S. Financial Corp. towards the purchase of condominiums. He was told that the payment represented deductible prepaid interest and that the paperwork regarding…
2Cases cited17 opinions
- Dobson v. CommissionerSupreme Court of the United States · 1944
- Commissioner of Internal Revenue v. Liberty Bank & Trust Co.Court of Appeals for the Sixth Circuit · 1932
- Mayfair Minerals, Inc. v. Commissioner of Internal RevenueCourt of Appeals for the Fifth Circuit · 1972
- West Seattle National Bank of Seattle v. Commissioner of Internal RevenueCourt of Appeals for the Ninth Circuit · 1961
- Block v. CommissionerUnited States Board of Tax Appeals · 1939
12 more not listed; retrieve them via the Exa API.
3Cited by31 opinions
- Woods v. CommissionerUnited States Tax Court · 1989
- Cluck v. CommissionerUnited States Tax Court · 1995
- Coastal Petroleum Refiners, Inc. v. CommissionerUnited States Tax Court · 1990
- Estate of Mueller v. Comm'rUnited States Tax Court · 1993
- Hughes & Luce, L.L.P. v. CommissionerCourt of Appeals for the Fifth Circuit · 1995
26 more not listed; retrieve them via the Exa API.