Keener v. Commissioner
United States Tax Court
Petitioner Seth Keener, employed by the Insurance Company of North America (INA) in Harrisburg, Pa., owned his home in that city. In January 1966 he executed the INA Appraisal Plan which provided, inter alia, that if he were assigned to another city he agreed to place his house for sale at a price to be determined by INA and upon the sale thereof, if the net sales price was less than the appraised value, INA would pay the difference to him.
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Petitioner Seth Keener, employed by the Insurance Company of North America (INA) in Harrisburg, Pa., owned his home in that city. In January 1966 he executed the INA Appraisal Plan which provided, inter alia, that if he were assigned to another city he agreed to place his house for sale at a price to be determined by INA and upon the sale thereof, if the net sales price was less than the appraised value, INA would pay the difference to him. In March 1966, INA transferred petitioner to another city and his house was sold at a loss in June 1967 to a third-party purchaser. INA paid $ 10,639.11…
1Opinion of the Court
Seth E. Keener, Jr., and Jeanne M. Keener, Petitioners v. Commissioner of Internal Revenue, Respondent
Keener v. Commissioner
Docket No. 1755-71
United States Tax Court
59 T.C. 302; 1972 U.S. Tax Ct. LEXIS 20;
November 22, 1972, Filed
Decision will be entered under Rule 50.
Petitioner Seth Keener, employed by the Insurance Company of North America (INA) in Harrisburg, Pa., owned his home in that city. In January 1966 he executed the INA Appraisal Plan which provided, inter alia, that if he were assigned to another city he agreed to place his house for sale at a price to be determined by INA and upon…
2Cases cited12 opinions
- Commissioner v. BrownSupreme Court of the United States · 1965
- Commissioner v. LoBueSupreme Court of the United States · 1956
- James J. Ritter v. The United StatesUnited States Court of Claims · 1968
- Ferebee v. CommissionerUnited States Tax Court · 1963
- Bradley v. CommissionerUnited States Tax Court · 1963
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