O'Barr v. Commissioner
United States Tax Court
In April 1961 petitioners sold an unimproved portion of the 2-acre tract on which their dwelling house was located. In August 1961 they purchased and moved into a new residence, but they did not sell their old dwelling house which, after remaining vacant for about 2 months, was occupied by the family of petitioners' daughter. Held, under these facts petitioners are not entitled to the nonrecognition-of-gain provisions of section 1034 of the Internal Revenue Code of 1954.
1Opinion of the Court
OPINION
Mulroney, Judge:
Respondent determined deficiencies in petitioners’ income taxes for the years 1961 and 1962 in the respective amounts of $431.19 and $275.13.
Petitioners received capital gain upon the sale of a portion of the 2-acre tract on which their dwelling house was located. The issue is whether the gain is to be recognized when they invested the proceeds of the sale in a new residence and moved into it within 18 months after the sale.
All of the facts have 'been stipulated and they are found accordingly.
Petitioners are husband and wife. They live in Mesa, Ariz., and they filed…
2Cases cited2 opinions
- Samuel E. Bogley and Anita C. Bogley v. Commissioner of Internal RevenueCourt of Appeals for the Fourth Circuit · 1959
- Bogley v. CommissionerUnited States Tax Court · 1958
3Cited by15 opinions
- Shaw v. CommissionerUnited States Tax Court · 1978
- Gates v. CommissionerUnited States Tax Court · 2010
- Boesel v. CommissionerUnited States Tax Court · 1975
- Snyder v. United StatesDistrict Court, D. Colorado · 1970
- Hughes v. CommissionerUnited States Tax Court · 1970
10 more not listed; retrieve them via the Exa API.