Miller v. Commissioner
United States Tax Court
P and M were brothers who inherited from their father stock in a family corporation and an interest in real estate. They also jointly purchased other real property. Later, hostility developed between them. They retained arbitrators who directed that P sell M his stock in the corporation and his interests in three parcels of the real estate. P claimed long-term capital loss and ordinary loss deductions on the sales to his brother.
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P and M were brothers who inherited from their father stock in a family corporation and an interest in real estate. They also jointly purchased other real property. Later, hostility developed between them. They retained arbitrators who directed that P sell M his stock in the corporation and his interests in three parcels of the real estate. P claimed long-term capital loss and ordinary loss deductions on the sales to his brother. Held: The deductions for losses sustained from the sales of property between brothers are not allowed by sec. 267, I.R.C. 1954. Family hostility does not create an…
1Opinion of the Court
Dawson, Judge:
In these consolidated cases the respondent determined the following deficiencies in petitioners’ Federal income taxes:
Docket No. Year Deficiency
1538-79 . 1976 $4,541.00
10923-79 . 1977 757.00
The deficiency determined for the year 1976 is based on an adjustment disallowing the deductions of losses sustained from the sales of the interests of petitioner David L. Miller in eight parcels of real estate, and a sale of his stock in Charles Miller, Inc., to his brother, I. Marvin Miller. Respondent has conceded that claimed losses related to sales of property to unrelated third parties…
2Cases cited15 opinions
- United States v. DavisSupreme Court of the United States · 1970
- McWilliams v. CommissionerSupreme Court of the United States · 1947
- Eva D. Bradbury v. Commissioner of Internal RevenueCourt of Appeals for the First Circuit · 1962
- Robin Haft Trust v. Commissioner of Internal RevenueCourt of Appeals for the First Circuit · 1975
- Niedermeyer v. CommissionerUnited States Tax Court · 1974
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3Cited by7 opinions
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- Miller v. CommissionerUnited States Tax Court · 1980
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