Reisner v. Commissioner
United States Tax Court
1. Petitioner and his brother owned an apartment building in Berlin, Germany, in which they had inherited their interests in 1916 and 1926. In 1937, they sold the building under duress of Nazi discriminatory measures. In 1952, they recovered the building under procedures established by the Allied Powers for restitution of identifiable property to victims of Nazi oppression.
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1. Petitioner and his brother owned an apartment building in Berlin, Germany, in which they had inherited their interests in 1916 and 1926. In 1937, they sold the building under duress of Nazi discriminatory measures. In 1952, they recovered the building under procedures established by the Allied Powers for restitution of identifiable property to victims of Nazi oppression. Held, the basis of the property for computing depreciation is not the fair market value of the building upon recovery within the provisions of sections 1336, I.R.C. 1954, and 127, I.R.C. 1939, but is the adjusted fair…
1Opinion of the Court
OPINION.
Black, Judge:
Petitioner claims that he is entitled to use, for the purpose of computing depreciation thereon, the fair market value of the building located in Berlin, Germany, at the time of its recovery under the procedures for restitution of identifiable property to the victims of Nazi oppression. His claim is predicated upon the contention that the property was a war loss within the provisions of section 1336 of the 1954 Code1 and section 127(a) (2) of the 1939 Code.2 We are satisfied that petitioner’s property does not come within the provisions of section 127. Before property is…
2Cases cited8 opinions
- Cohan v. Commissioner of Internal RevenueCourt of Appeals for the Second Circuit · 1930
- United States v. S. S. White Dental Manufacturing Co.Supreme Court of the United States · 1927
- Illinois Merchants Trust Co. v. CommissionerUnited States Board of Tax Appeals · 1926
- Silverman v. CommissionerUnited States Tax Court · 1957
- Abraham v. CommissionerUnited States Tax Court · 1947
3 more not listed; retrieve them via the Exa API.
3Cited by10 opinions
- United States v. W. J. Wehrli and Helen B. WehrliCourt of Appeals for the Tenth Circuit · 1968
- Gutwirth v. CommissionerUnited States Tax Court · 1963
- Buckley v. CommissionerUnited States Tax Court · 1994
- Cowing v. CommissionerUnited States Tax Court · 1969
- Devine v. United StatesUnited States Court of Federal Claims · 2021
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