Beals v. Commissioner
United States Tax Court
P devoted his full time to the management of the extensive investments owned by him and his family. He treated the dividends received by him as earned income subject to the maximum tax provided by sec. 1348, I.R.C. 1954. Held, the management of investments is not a trade or business for such purposes.
1Opinion of the Court
E. MAURAN BEALS and JULIA O. BEALS, Petitioners v. COMMISSIONER OF INTERNAL REVENUE, Respondent
Beals v. Commissioner
Docket No. 16748-82.
United States Tax Court
T.C. Memo 1987-171; 1987 Tax Ct. Memo LEXIS 167; 53 T.C.M. (CCH) 492; T.C.M. (RIA) 87171;
March 30, 1987.
P devoted his full time to the management of the extensive investments owned by him and his family. He treated the dividends received by him as earned income subject to the maximum tax provided by sec. 1348, I.R.C. 1954. Held, the management of investments is not a trade or business for such purposes.
Edward DeFranceschi and Joan…
2Cases cited7 opinions
- Higgins v. CommissionerSupreme Court of the United States · 1941
- Whipple v. CommissionerSupreme Court of the United States · 1963
- Snyder v. CommissionerSupreme Court of the United States · 1935
- Ralph E. Purvis and Patricia Lee Purvis, His Wife v. Commissioner of Internal RevenueCourt of Appeals for the Ninth Circuit · 1976
- Ditunno v. CommissionerUnited States Tax Court · 1983
2 more not listed; retrieve them via the Exa API.
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- Mayer v. CommissionerUnited States Tax Court · 1994