Bolaris v. Commissioner
United States Tax Court
Petitioners listed their old residence with a real estate broker in July 1977 and began construction of a new residence. When the old residence was not sold within 90 days, they rented it on a month-to-month basis and continued their efforts to sell.
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Petitioners listed their old residence with a real estate broker in July 1977 and began construction of a new residence. When the old residence was not sold within 90 days, they rented it on a month-to-month basis and continued their efforts to sell. The property was rented from October 1977 until May 1978 and was ultimately sold in August 1978. Respondent disallowed claimed deductions for depreciation and expenses in excess of rental income, concluding that, since the old residence had not been converted to property held for the production of income, sec. 183, I.R.C. 1954, limited the amount…
1Opinion of the Court
Dawson, Chief Judge1.
This case was assigned to and heard by Special Trial Judge Fred S. Gilbert, Jr., pursuant to the provisions of section 7456(c) of the Internal Revenue Code1 and Rules 180 and 181, Tax Court Rules of Practice and Procedure.2 The Court agrees with and adopts his opinion which is set forth below.
OPINION OF THE SPECIAL TRIAL JUDGE
Gilbert, Special Trial Judge:
Respondent determined deficiencies in petitioners’ Federal income taxes of $486 and $408 for the taxable years 1977 and 1978, respectively. By amended answer, respondent asserted an increased deficiency of $3,339 for the…
2Cases cited7 opinions
- Jasionowski v. CommissionerUnited States Tax Court · 1976
- Stolk v. CommissionerUnited States Tax Court · 1963
- Horrmann v. CommissionerUnited States Tax Court · 1951
- Aagaard v. CommissionerUnited States Tax Court · 1971
- Clapham v. CommissionerUnited States Tax Court · 1975
2 more not listed; retrieve them via the Exa API.
3Cited by17 opinions
- Thomas v. CommissionerUnited States Tax Court · 1989
- Stephen Bolaris and Valerie H. Bolaris v. Commissioner of Internal RevenueCourt of Appeals for the Ninth Circuit · 1985
- Christensen v. CommissionerUnited States Tax Court · 1984
- Brand v. CommissionerUnited States Tax Court · 1988
- Murphy v. CommissionerUnited States Tax Court · 1993
12 more not listed; retrieve them via the Exa API.