Boyer v. Commissioner
United States Tax Court
1. Brooks, Boyer, and B Investments were the sole and equal shareholders of B Developers, Inc. Brooks and Boyer sold two tracts of land to B Developers, one in 1966 and one in 1968, which were thereafter developed and sold in individual lots as Country Club Meadows tracts I and II.
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1. Brooks, Boyer, and B Investments were the sole and equal shareholders of B Developers, Inc. Brooks and Boyer sold two tracts of land to B Developers, one in 1966 and one in 1968, which were thereafter developed and sold in individual lots as Country Club Meadows tracts I and II. Held, the gain realized by Brooks and Boyer on the sale of tract II of Country Club Meadows to B Developers is taxable as ordinary income rather than capital gain. 2. Additionally, a partnership comprised of Brooks, Boyer, and B Investments leased the Fluhrer office building to B Developers in 1966 for $ 15,000…
1Opinion of the Court
Robert A. Boyer and Marjorie A. Boyer, et al., 1 Petitioners v. Commissioner of Internal Revenue, Respondent
Boyer v. Commissioner
Docket Nos. 3708-70, 3709-70, 3742-70
United States Tax Court
58 T.C. 316; 1972 U.S. Tax Ct. LEXIS 121;
May 17, 1972, Filed
Decisions will be entered under Rule 50.
1. Brooks, Boyer, and B Investments were the sole and equal shareholders of B Developers, Inc. Brooks and Boyer sold two tracts of land to B Developers, one in 1966 and one in 1968, which were thereafter developed and sold in individual lots as Country Club Meadows tracts I and II. Held, the gain realized by…
2Cases cited26 opinions
- Wichita Term. El. Co. v. Commissioner of Int. R.Court of Appeals for the Tenth Circuit · 1947
- Grenada Industries, Inc. v. Commissioner of Internal RevenueCourt of Appeals for the Fifth Circuit · 1953
- Commissioner v. First Security Bank of Utah, N. A.Supreme Court of the United States · 1972
- Walter H. Kaltreider and Irene C. Kaltreider v. Commissioner of Internal RevenueCourt of Appeals for the Third Circuit · 1958
- Ballentine Motor Co., Inc., Ballentine's, and Ballentine Motors, Inc. v. Commissioner of Internal RevenueCourt of Appeals for the Fourth Circuit · 1963
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