Baertschi v. Commissioner
United States Tax Court
Held, on the facts disclosed by the record, that petitioners had commenced construction of a new residence prior to the expiration of 1 year after the date of sale of the old residence and had used the newly constructed residence as their principal residence within 18 months of said sale date and that, therefore, they are entitled to utilize the nonrecognition provisions of sec. 1034, I.R.C. 1954, with respect to the sale of their old residence.
1Opinion of the Court
OPINION
The issue for determination is whether petitioners are entitled to utilize the nonrecognition provisions of section 1034, with respect to the sale of their old residence. 'Section 1034 provides, in part, as follows:
SEO. 1034. SALE OR EXCHANGE OP RESIDENCE.(a) Nonrecognition op Gain — 1£ property (in. this section called “old residence”) used by the taxpayer as his principal residence is sold by him after December 31, 1953, and, within a period beginning 1 year before the date of such sale and ending 1 year after such date, property (in this section called “new residence”) is purchased…
Also in this document: Concurrence.
2Cases cited6 opinions
- Commissioner of Internal Revenue v. Union Pac. R. Co.Court of Appeals for the Second Circuit · 1936
- Merrill v. CommissionerUnited States Tax Court · 1963
- Boatman v. CommissionerUnited States Tax Court · 1959
- Union P. R. Co. v. CommissionerUnited States Board of Tax Appeals · 1935
- Commissioner of Internal Revenue v. Robert J. And Emma R. StuatrCourt of Appeals for the Third Circuit · 1962
1 more not listed; retrieve them via the Exa API.
3Cited by16 opinions
- Derr v. CommissionerUnited States Tax Court · 1981
- Keith v. CommissionerUnited States Tax Court · 2000
- Fletcher v. United StatesDistrict Court, N.D. Indiana · 1967
- Hoven v. CommissionerUnited States Tax Court · 1971
- J. C. Bradford and Eleanor A. Bradford v. The United StatesUnited States Court of Claims · 1971
11 more not listed; retrieve them via the Exa API.