Home Sales Co. v. Commissioner
United States Tax Court
1. Respondent disallowed certain alleged compensation deductions in part and others in their entirety. The compensation deductions claimed by the corporate petitioners, home construction companies, were charged on the books as compensation for Theodore, who, with his wife, owned all of the stock of the corporate petitioners, and for his two sons, Carl and Edward.
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1. Respondent disallowed certain alleged compensation deductions in part and others in their entirety. The compensation deductions claimed by the corporate petitioners, home construction companies, were charged on the books as compensation for Theodore, who, with his wife, owned all of the stock of the corporate petitioners, and for his two sons, Carl and Edward. Held, that compensation claimed for Theodore allowed in full and compensation claimed for Carl and Edward allowed in part. 2. Theodore incurred out-of-pocket expenses on behalf of corporate petitioners. He estimated the amounts…
1Opinion of the Court
The Home Sales Company et al. 1 v. Commissioner.
Home Sales Co. v. Commissioner
Docket Nos. 55126-55128.
United States Tax Court
T.C. Memo 1957-78; 1957 Tax Ct. Memo LEXIS 171; 16 T.C.M. (CCH) 341; T.C.M. (RIA) 57078;
May 17, 1957
1. Respondent disallowed certain alleged compensation deductions in part and others in their entirety. The compensation deductions claimed by the corporate petitioners, home construction companies, were charged on the books as compensation for Theodore, who, with his wife, owned all of the stock of the corporate petitioners, and for his two sons, Carl and Edward. Held,…
2Cases cited3 opinions
- Hartley v. CommissionerUnited States Tax Court · 1954
- Sherwood v. CommissionerUnited States Tax Court · 1953
- Fifteenth & Chestnut Realty Co. v. CommissionerUnited States Board of Tax Appeals · 1934