Keeney v. Commissioner
United States Board of Tax Appeals
1. The petitioner is sustained in his contention that the gains here in question are capital net gains. 2. Held, that in accordance with his election, the tax thereon shall be levied at 12 1/2 per centum thereof under the provisions of section 206(b) of the Revenue Act of 1921.
1Opinion of the Court
*563OPINION.
Love:
The issue here arises in the contention of the respondent that the petitioner was a real estate “ dealer ”; that these four properties were a part of his “ stock in trade ” of a kind which would properly be included in the inventory of the taxpayer- if on hand at the close of the taxable year. The petitioner contends, to the contrary, that he was and is a real estate “ broker ” and that as such he has no inventory; and that even though he were a real estate “ dealer,” these properties would not constitute a stock in trade of a kind which would properly be included in his…
2Cited by6 opinions
- Loughborough Dev. Corp. v. CommissionerUnited States Board of Tax Appeals · 1933
- Pope v. CommissionerUnited States Board of Tax Appeals · 1933
- Dunigan v. CommissionerUnited States Board of Tax Appeals · 1931
- Keeney v. CommissionerUnited States Board of Tax Appeals · 1929
- Payer v. CommissionerUnited States Tax Court · 1946
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