Shaffer v. Commissioner
United States Tax Court
Petitioners were engaged in the business of purchasing and cutting timber, manufacturing lumber products, and selling logs and lumber products to others.
Read the full summary
Petitioners were engaged in the business of purchasing and cutting timber, manufacturing lumber products, and selling logs and lumber products to others. Held, under certain contracts executed by petitioners and the owner of timberland, they acquired the right to cut timber for sale on their own account and for use in their trade or business within the meaning of section 631(a), I.R.C. 1954, and section 117(k)(1), I.R.C. 1939, and therefore were entitled to report the gain arising from the sale of logs and lumber as capital gain.
1Opinion of the Court
Stanley Shaffer and Frances Shaffer, Husband and Wife v. Commissioner. George Lindsey and Tilda Lindsey, Husband and Wife v. Commissioner.
Shaffer v. Commissioner
Docket Nos. 78708, 78765.
United States Tax Court
T.C. Memo 1960-186; 1960 Tax Ct. Memo LEXIS 103; 19 T.C.M. (CCH) 978; T.C.M. (RIA) 60186;
September 12, 1960
Petitioners were engaged in the business of purchasing and cutting timber, manufacturing lumber products, and selling logs and lumber products to others. Held, under certain contracts executed by petitioners and the owner of timberland, they acquired the right to cut timber for sale…
2Cases cited5 opinions
- Carlen v. CommissionerUnited States Tax Court · 1953
- United States v. Pete Johnson, F. Douglas Mavor, Jane Kendle Mavor, Nelson T. Bruce, and Cleo BruceCourt of Appeals for the Ninth Circuit · 1958
- Pinkerton v. CommissionerUnited States Tax Court · 1957
- Gilmore v. United StatesUnited States Court of Claims · 1960
- Wirkkala v. United StatesDistrict Court, W.D. Washington · 1960