Legal Opinion
Raymond Day and Anna Joyce Day v. United States of America, William L. Day and Jane A. Day v. United States
Court of Appeals for the Eighth Circuit
Decided June 5, 1984No. 83-2301, 83-2302PublishedCited by 4 opinions
1Opinion of the Court
FAGG, Circuit Judge.
Raymond and William Day appeal from the judgment of the district court that certain commodity futures transactions be treated as capital, rather than ordinary, losses. We affirm.
The Days are brothers engaged in separate farming operations in southeast Arkansas. During the years in question, the Days raised cotton and soybean crops on their farms and also traded extensively in cotton and soybean futures. Losses total-ling $254,609 were incurred by the Days as a result of their trading and were claimed by them as ordinary losses due to hedging. The Commissioner determined…
2Cases cited4 opinions
- Corn Products Refining Co. v. CommissionerSupreme Court of the United States · 1956
- Muldrow v. CommissionerUnited States Tax Court · 1962
- Estate of Laughlin v. CommissionerUnited States Tax Court · 1971
- Hendrich v. CommissionerUnited States Tax Court · 1980
3Cited by4 opinions
- Don D. Dial Elizabeth A. Dial v. Commissioner Internal Revenue ServiceCourt of Appeals for the Ninth Circuit · 1992
- In Re Ashanti Goldfields Securities LitigationDistrict Court, E.D. New York · 2002
- Myers v. CommissionerUnited States Tax Court · 1986
- Fortner v. CommissionerUnited States Tax Court · 1993