Legal Opinion
Martin H. Fishman v. Commissioner of Internal Revenue
Court of Appeals for the Seventh Circuit
Decided January 12, 1988No. 87-1570PublishedCited by 19 opinions
1Opinion of the Court
POSNER, Circuit Judge.
This appeal by the Internal Revenue Service from a decision by the Tax Court requires us to decide whether the costs incurred by an individual in starting a business may be deducted as current expenses (rather than having to be capitalized) under section 212(2) of the Internal Revenue Code, which allows an individual to deduct “all the ordinary and necessary expenses paid or incurred during the taxable year ... for the management, conservation, or maintenance of property held for the production of income.”
The taxpayers formed a partnership to develop a shopping center on…
2Cases cited21 opinions
- United States v. GilmoreSupreme Court of the United States · 1963
- Woodward v. CommissionerSupreme Court of the United States · 1970
- Commissioner v. Idaho Power Co.Supreme Court of the United States · 1974
- Richmond Television Corporation v. United StatesCourt of Appeals for the Fourth Circuit · 1965
- Waddell v. CommissionerUnited States Tax Court · 1986
16 more not listed; retrieve them via the Exa API.
3Cited by19 opinions
- First Chicago Corporation v. Commissioner of Internal RevenueCourt of Appeals for the First Circuit · 1988
- Sealy Power, Ltd. v. CommissionerCourt of Appeals for the Fifth Circuit · 1995
- U.S. Freightways Corp., F.K.A. Tnt Freightways Corp., and Subsidiaries v. Commissioner of Internal RevenueCourt of Appeals for the Seventh Circuit · 2001
- Hardy v. CommissionerUnited States Tax Court · 1989
- Cabintaxi Corporation, Formerly Known as Automated Transit, Incorporated, and Robert Edler, "Tax Matters Person," v. Commissioner of Internal RevenueCourt of Appeals for the Seventh Circuit · 1995
14 more not listed; retrieve them via the Exa API.