Kurtin v. Commissioner
United States Tax Court
Losses on sales of butter futures entered into to protect taxpayers against decline in the price of cheese purchased under forward contracts at a fixed price, held, on the facts, to be allowable in full as hedging transactions.
1Opinion of the Court
Albert Kurtin and Patricia Bristol Kurtin, Petitioners, v. Commissioner of Internal Revenue, Respondent
Kurtin v. Commissioner
Docket No. 51666
United States Tax Court
26 T.C. 958; 1956 U.S. Tax Ct. LEXIS 104;
August 30, 1956, Filed
Decision will be entered under Rule 50.
Losses on sales of butter futures entered into to protect taxpayers against decline in the price of cheese purchased under forward contracts at a fixed price, held, on the facts, to be allowable in full as hedging transactions.
Bernard Weiss, Esq., for the petitioners.
A. Jesse Duke, Jr., Esq., for the respondent.
Opper, Judge.
OPPER
Res…
2Cases cited4 opinions
- Corn Products Refining Co. v. CommissionerSupreme Court of the United States · 1956
- Trenton Cotton Oil Co. v. Commissioner of Internal RevenueCourt of Appeals for the Sixth Circuit · 1945
- Corn Products Refining Company v. Commissioner of Internal RevenueCourt of Appeals for the Second Circuit · 1954
- Kurtin v. CommissionerUnited States Tax Court · 1956