Deinert v. Commissioner
United States Board of Tax Appeals
1. Petitioner made an oral gift of land to his son. Soon thereafter and before the donee entered into possession the tract was sold. Held, that under the law of the State of Nebraska petitioner was owner of the land on the date of sale and that profit derived therefrom was properly included in his gross income for the taxable year. 2. In August, 1918, petitioner made an oral gift of land to certain of his children.
Read the full summary
1. Petitioner made an oral gift of land to his son. Soon thereafter and before the donee entered into possession the tract was sold. Held, that under the law of the State of Nebraska petitioner was owner of the land on the date of sale and that profit derived therefrom was properly included in his gross income for the taxable year. 2. In August, 1918, petitioner made an oral gift of land to certain of his children. On June 23, 1919, a contract of sale was entered into between petitioner and a third party. On January 3, 1920, a deed was executed by petitioner and delivered to his children. In…
1Opinion of the Court
*653OPINION.
Lansdon:
There is no controversy over the amount of profit derived from the sales, or the years in which the sales were made. The only question presented is whether petitioner or his children owned the tracts of land on the dates of sale.
The land involved is in the State of Nebraska. The law of that State determines the legal effect of the oral transfers herein involved.
Section 2453 of the Compiled Statues of Nebraska (1922) provides:
Contracts for the lease or sale of lands: Every contract for the leasing for a longer period than one year from the making thereof, or for the sale of any…
2Cases cited9 opinions
- Neale v. NealesSupreme Court of the United States · 1870
- Riggles v. ErneySupreme Court of the United States · 1894
- Wylie v. CharltonNebraska Supreme Court · 1895
- Anson v. TownsendCalifornia Supreme Court · 1887
- Waite v. StanleySupreme Court of Vermont · 1914
4 more not listed; retrieve them via the Exa API.
3Cited by3 opinions
- Smith v. CommissionerUnited States Tax Court · 1955
- Deinert v. CommissionerUnited States Board of Tax Appeals · 1928
- Salvatore v. CommissionerUnited States Tax Court · 1970