Burwig v. Commissioner
United States Tax Court
Petitioners, under the facts disclosed, held to be entitled to deduct in 1948 the depreciated cost, less one dollar, of a frame building owned and rented by them for several years to tenants, where in the taxable year they decided to raze the building and effected their purpose by conveying it to a purchaser for one dollar and the latter's obligation to remove it from the premises in 30 days.
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Petitioners, under the facts disclosed, held to be entitled to deduct in 1948 the depreciated cost, less one dollar, of a frame building owned and rented by them for several years to tenants, where in the taxable year they decided to raze the building and effected their purpose by conveying it to a purchaser for one dollar and the latter's obligation to remove it from the premises in 30 days. The cost to petitioners of securing from a tenant the termination of its lease, held to be a capital expenditure to be recovered over the unexpired term of the terminated lease.
1Opinion of the Court
Herbert Burwig and Gertrude Burwig v. Commissioner.
Burwig v. Commissioner
Docket No. 37227.
United States Tax Court
1953 Tax Ct. Memo LEXIS 82; 12 T.C.M. (CCH) 1197; T.C.M. (RIA) 53339;
October 27, 1953
Petitioners, under the facts disclosed, held to be entitled to deduct in 1948 the depreciated cost, less one dollar, of a frame building owned and rented by them for several years to tenants, where in the taxable year they decided to raze the building and effected their purpose by conveying it to a purchaser for one dollar and the latter's obligation to remove it from the premises in 30 days.
The…
2Cases cited3 opinions
- Cassatt v. CommissionerUnited States Board of Tax Appeals · 1942
- Griffin v. CommissionerUnited States Board of Tax Appeals · 1929
- Lansburgh & Bro., Inc. v. CommissionerUnited States Board of Tax Appeals · 1931