Giffin v. Commissioner
United States Board of Tax Appeals
INSTALLMENT SALE OF REAL ESTATE. - Where real estate was sold by one not a dealer and the profit reported on the installment method, the expenses incident to the sale serve to reduce the selling price in determining the profit to be realized, thus being spread over the same period as the installment payments, and are not deductible in full in the year of sale.
1Opinion of the Court
MRS. E. A. GIFFIN, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
Giffin v. Commissioner
Docket No. 37933.
United States Board of Tax Appeals
19 B.T.A. 1243; 1930 BTA LEXIS 2247;
May 28, 1930, Promulgated
INSTALLMENT SALE OF REAL ESTATE. - Where real estate was sold by one not a dealer and the profit reported on the installment method, the expenses incident to the sale serve to reduce the selling price in determining the profit to be realized, thus being spread over the same period as the installment payments, and are not deductible in full in the year of sale.
Douglas D. Felix, Esq.,…
2Cases cited7 opinions
- Lovejoy v. CommissionerUnited States Board of Tax Appeals · 1930
- Giffin v. CommissionerUnited States Board of Tax Appeals · 1930
- Blum's, Inc. v. CommissionerUnited States Board of Tax Appeals · 1927
- Bonwit Teller & Co. v. CommissionerUnited States Board of Tax Appeals · 1929
- Central Bank Block Ass'n v. CommissionerUnited States Board of Tax Appeals · 1930
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