McGuire v. Commissioner
United States Tax Court
Fair market value of personal property donated to charity determined. Value of high-quality household furnishings and expensive fur coats not limited to prices received at unrestricted auction sales conducted soon after property was donated to charity.
1Opinion of the Court
Drennen, Judge:
Respondent determined deficiencies in petitioners’ income tax for the years 1958, 1959, and 1960 in the amounts of $12,524.15, $12,979.85, and $10,760.72, respectively. The only issue is the amount allowable to petitioners in each of the taxable years as deductions for contributions of certain tangible personal property to a charitable organization.
findings of fact
The stipulated facts are fotmd as stipulated and the facts reflected in the exhibits received in evidence are incorporated herein by reference.
Petitioners are husband and wife residing in Chicago, Ill. They filed…
2Cases cited13 opinions
- Cohan v. Commissioner of Internal RevenueCourt of Appeals for the Second Circuit · 1930
- Marie H. Hamm v. Commissioner of Internal Revenue, William Hamm, Jr. v. Commissioner of Internal RevenueCourt of Appeals for the Eighth Circuit · 1963
- Guggenheim v. RasquinSupreme Court of the United States · 1941
- Kaplan v. CommissionerUnited States Tax Court · 1965
- Lorenzo Alvary v. United StatesCourt of Appeals for the Second Circuit · 1962
8 more not listed; retrieve them via the Exa API.
3Cited by63 opinions
- Leonard Greene and Joyce Greene v. United StatesCourt of Appeals for the Second Circuit · 1994
- Southern Pacific Transp. Co. v. CommissionerUnited States Tax Court · 1980
- Stark v. CommissionerUnited States Tax Court · 1986
- Estate of Smith v. CommissionerUnited States Tax Court · 1972
- Skripak v. CommissionerUnited States Tax Court · 1985
58 more not listed; retrieve them via the Exa API.