Legal Opinion
William Malat and Ethel Malat v. Robert A. Riddell, District Director of Internal Revenue
Court of Appeals for the Ninth Circuit
Decided May 27, 1965No. 19286_1PublishedCited by 15 opinions
1Opinion of the Court
MERRILL, Circuit Judge.
Profit derived from sales of property held by a taxpayer, primarily for sale to customers in the ordinary course of his trade or business, is, under section 1221 of the Internal Revenue Code of 1954, 1 excluded from treatment as capital gain.
^This case presents the question wheth"er real estate sold at a profit by one engaged in the business of dealing in real estate had, under the particular circumstances, been held by him as an investment or primarily for sale to customers. Upon this issue the trial court has found against the taxpayer, ruling that the profit must…
2Cases cited3 opinions
- Rollingwood Corp. v. Commissioner of Internal Revenue. Bohannon v. Commissioner of Internal RevenueCourt of Appeals for the Ninth Circuit · 1951
- The Municipal Bond Corporation v. Commissioner of Internal RevenueCourt of Appeals for the Eighth Circuit · 1965
- B. B. Margolis and Iris M. Margolis v. Commissioner of Internal RevenueCourt of Appeals for the Ninth Circuit · 1964
3Cited by15 opinions
- Malat v. RiddellSupreme Court of the United States · 1966
- Biedenharn Realty Co. v. United StatesCourt of Appeals for the Fifth Circuit · 1976
- Bynum v. CommissionerUnited States Tax Court · 1966
- The Municipal Bond Corporation v. Commissioner of Internal RevenueCourt of Appeals for the Eighth Circuit · 1967
- William A. Scheuber and Hildegard Scheuber v. Commissioner of Internal RevenueCourt of Appeals for the Seventh Circuit · 1967
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