Coward v. Commissioner
United States Board of Tax Appeals
1. Petitioner may deduct, from her 1934 gross income, New Jersey real estate taxes for 1934 paid by her on properties purchased October 16, 1933, and December 8, 1933, respectively. 2. While Compiled Statutes of New Jersey, sec. 208-66d (302), directed that assessments for 1934 should be made October 1, 1933, in the name of the owner of real property on that date, the 1934 taxes on real estate did not "accrue" in 1933 but in 1934 when all the events determining the liability…
Read the full summary
1. Petitioner may deduct, from her 1934 gross income, New Jersey real estate taxes for 1934 paid by her on properties purchased October 16, 1933, and December 8, 1933, respectively. 2. While Compiled Statutes of New Jersey, sec. 208-66d (302), directed that assessments for 1934 should be made October 1, 1933, in the name of the owner of real property on that date, the 1934 taxes on real estate did not "accrue" in 1933 but in 1934 when all the events determining the liability became fixed and certain; hence the taxes paid by petitioner were her own and not those of the prior owner of the…
1Opinion of the Court
OPINION.
Leech:
Petitioner asks redetermination of a deficiency of $2,020.10 in income tax for the calendar year 1934, of which she contests only $1,836.61. The issue is whether petitioner is entitled to deduct, from her gross income, the sum of $8,450.31, consisting of taxes assessed for and paid during 1934 on real estate situated in the State of New Jersey.
The facts have been stipulated and are found accordingly.
Petitioner kept her books and filed her income tax return on the *1159basis ox cash receipts and disbursements. On October 16, 1938, she acquired title to real estate located at 9…
2Cases cited5 opinions
- United States v. AndersonSupreme Court of the United States · 1926
- Manhattan General Equipment Co. v. Commissioner of Internal RevenueSupreme Court of the United States · 1936
- Mayor & Aldermen of Jersey City v. Township of MontvilleSupreme Court of New Jersey · 1913
- Township of Middletown v. IvinsSupreme Court of New Jersey · 1925
- Evansville & Indianapolis Railroad v. HaysIndiana Supreme Court · 1889
3Cited by3 opinions
- Burchell v. CommissionerUnited States Board of Tax Appeals · 1940
- Coward v. CommissionerUnited States Board of Tax Appeals · 1939
- Schock, G. & Co. v. CommissionerUnited States Board of Tax Appeals · 1942