Legal Opinion
W. C. Wood and Altamae Wood v. Commissioner of Internal Revenue
Court of Appeals for the Fifth Circuit
Decided April 11, 1960No. 17651PublishedCited by 25 opinions
1Opinion of the Court
JONES, Circuit Judge.
The petitioners seek review of a decision of the Tax Court holding the proceeds of certain real estate sold during the years 1948 through 1953 to be taxable as ordinary income rather than as capital gains. This decision followed a determination that the sales involved were of property held primarily for sale to customers in the ordinary course of petitioner’s trade or business. Petitioners attack this determination and contend that the proceeds should be treated as capital gains under sections 117(a) and (j) of the Internal Revenue Code of 1939. 26 U.S.C.A. (I.R.C.1939) §…
2Cases cited9 opinions
- Galena Oaks Corporation v. Frank Scofield, Collector of Internal RevenueCourt of Appeals for the Fifth Circuit · 1954
- Arthur W. Smith and Mrs. Arthur W. Smith v. Charles H. Dunn, Formerly Acting Collector of Internal RevenueCourt of Appeals for the Fifth Circuit · 1955
- Nathan D. Goldberg and S. E. Wood, Jr. v. Commissioner of Internal RevenueCourt of Appeals for the Fifth Circuit · 1955
- Foran v. Commissioner of Internal RevenueCourt of Appeals for the Fifth Circuit · 1948
- Julian E. Ross and Gertrude A. Ross v. Commissioner of Internal RevenueCourt of Appeals for the Fifth Circuit · 1955
4 more not listed; retrieve them via the Exa API.
3Cited by25 opinions
- United States v. Ada Belle Winthrop, Individually and as Under the Will of Guy L. Winthrop, DeceasedCourt of Appeals for the Fifth Circuit · 1969
- Biedenharn Realty Co. v. United StatesCourt of Appeals for the Fifth Circuit · 1976
- Fritz Thompson and Dora M. Thompson v. Commissioner of Internal RevenueCourt of Appeals for the Fifth Circuit · 1963
- Suburban Realty Company v. United StatesCourt of Appeals for the Fifth Circuit · 1980
- Byram v. United StatesCourt of Appeals for the Fifth Circuit · 1983
20 more not listed; retrieve them via the Exa API.