Nicodemus v. Commissioner
United States Board of Tax Appeals
Petitioner and his wife held title to real estate as tenants by the entirety. The property was mortgaged and petitioner and his wife were jointly and severally liable on the mortgage notes. Petitioner paid taxes on the property and mortgage interest out of his separate income. Held, petitioner is entitled to deduct the full amounts so paid.
1Opinion of the Court
*126OPINION.
Arundell:
The respondent disallowed as deductions one-half of the interest on a mortgage on real estate paid by petitioner in 1928 and 1929 and one-half of the taxes paid on the same property in 1929, which disallowances resulted in deficiencies of $92.45 for 1928 and $408.31 for 1929.
In 1928 petitioner and his wife acquired title, as tenants by the entireties, to real estate in the State of New York. The property is occupied by them as a residence. In the taxable years the property was encumbered by a first mortgage of $25,000. Both petitioner •and his wife signed the mortgage notes…
2Cases cited1 opinion
- Bartholomay Brewery Co. v. O'BrienAppellate Division of the Supreme Court of the State of New York · 1916
3Cited by11 opinions
- Milgroom v. CommissionerUnited States Tax Court · 1959
- Small v. CommissionerUnited States Board of Tax Appeals · 1933
- Blackburn v. CommissionerUnited States Tax Court · 1979
- Conroy v. CommissionerUnited States Tax Court · 1958
- Castaneda-Benitez v. CommissionerUnited States Tax Court · 1981
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