Legal Opinion
Victor Lee Coffey, Sr., and Margaret H. Coffey v. United States
Court of Appeals for the Tenth Circuit
Decided August 19, 1964No. 7422_1PublishedCited by 16 opinions
1Opinion of the Court
PICKETT, Circuit Judge.
The principal question presented by this appeal is whether gains accruing to the appellants-taxpayers from sales of real estate and water stock during the years 1952 through 1955 should be taxed as ordinary income or as income from the sale of capital assets. 1 In their returns for these years, the taxpayers returned the gain as income from the sale of capital assets. The Commissioner determined that the property was held for sale to customers in the ordinary course of trade or business, and should be taxed as ordinary income. Accordingly, a deficiency was assessed,…
2Cases cited19 opinions
- Helvering v. National Grocery Co.Supreme Court of the United States · 1938
- Commissioner v. P. G. Lake, Inc.Supreme Court of the United States · 1958
- Commissioner v. Scottish American Investment Co.Supreme Court of the United States · 1945
- MAULDIN v. COMMISSIONER OF INTERNAL REVENUE (Two Cases)Court of Appeals for the Tenth Circuit · 1952
- Rollingwood Corp. v. Commissioner of Internal Revenue. Bohannon v. Commissioner of Internal RevenueCourt of Appeals for the Ninth Circuit · 1951
14 more not listed; retrieve them via the Exa API.
3Cited by16 opinions
- Hardin v. Manitowoc-Forsythe Corp.Court of Appeals for the Tenth Circuit · 1982
- McCullough Tool Co. v. Well Surveys, Inc.Court of Appeals for the Tenth Circuit · 1965
- Richard Paul DENISON, Plaintiff-Appellee, v. SWACO GEOLOGRAPH COMPANY, Defendant-AppellantCourt of Appeals for the Tenth Circuit · 1991
- Jack S. Burden v. United StatesCourt of Appeals for the Tenth Circuit · 1973
- United States v. HessCourt of Appeals for the Tenth Circuit · 1965
11 more not listed; retrieve them via the Exa API.