Blaess v. Commissioner
United States Tax Court
1. Deductions -- Insurance Premiums -- Sec. 23 (a) (1) (A) and (a) (2), I. R. C. 1939. -- Petitioner, a doctor, acquired three disability insurance policies which provided that he would receive monthly payments in the event of disability from accident or sickness.
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1. Deductions -- Insurance Premiums -- Sec. 23 (a) (1) (A) and (a) (2), I. R. C. 1939. -- Petitioner, a doctor, acquired three disability insurance policies which provided that he would receive monthly payments in the event of disability from accident or sickness. The insurance policies did not provide for payments to reimburse petitioner for business overhead expenses incurred by him during disability in the operation of his office; they were not issued for business purposes. Held, that the insurance premiums paid in the taxable year were not ordinary and necessary expenses of petitioner's…
1Opinion of the Court
OPINION.
HarROn, Judge,:
The sole issue for decision is whether premiums on three disability insurance policies, paid by petitioner in 1951, in the total amount of $431.80, are deductible under the provisions of section 23 (a) (1) (A) or section 23 (a) (2), 1939 Code,1 or are nondeductible personal expenses under the provisions of section 24 (a) (1). 2
Respondent determined that the premium payments are not deductible under section 23 (a) (2). Petitioner contends that the premium payments are deductible as ordinary and necessary expenses of carrying on a trade or business, within the meaning of…
2Cases cited11 opinions
- Welch v. HelveringSupreme Court of the United States · 1933
- New Colonial Ice Co. v. HelveringSupreme Court of the United States · 1934
- Deputy, Administratrix v. Du PontSupreme Court of the United States · 1940
- Kornhauser v. United StatesSupreme Court of the United States · 1928
- McDonald v. CommissionerSupreme Court of the United States · 1944
6 more not listed; retrieve them via the Exa API.
3Cited by19 opinions
- Peter Stemkowski v. Commissioner of Internal RevenueCourt of Appeals for the Second Circuit · 1982
- Drayton Heard and Elizabeth A. Heard v. Commissioner of Internal RevenueCourt of Appeals for the Third Circuit · 1959
- Green v. CommissionerUnited States Tax Court · 1980
- O'Donohue v. CommissionerUnited States Tax Court · 1960
- Andrews v. CommissionerUnited States Tax Court · 1970
14 more not listed; retrieve them via the Exa API.