Harden v. Commissioner
United States Tax Court
1. Income -- Gross Income -- Cost of Goods Sold. -- The 1947 and 1948 costs of constructing new burial crypts, none of which were sold in 1947 and 1948, cannot be deducted as the cost of crypts sold in 1947 and 1948, all of which were constructed prior to 1947 and the cost of which had been recovered tax free in prior years. 2. Trust Income -- Withdrawing to Pay Expenses -- Exemption of Municipal Bond Interest. -- The petitioner was authorized to withdraw funds from a trust…
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1. Income -- Gross Income -- Cost of Goods Sold. -- The 1947 and 1948 costs of constructing new burial crypts, none of which were sold in 1947 and 1948, cannot be deducted as the cost of crypts sold in 1947 and 1948, all of which were constructed prior to 1947 and the cost of which had been recovered tax free in prior years. 2. Trust Income -- Withdrawing to Pay Expenses -- Exemption of Municipal Bond Interest. -- The petitioner was authorized to withdraw funds from a trust but was required to use and did use all of the funds to pay expenses of a cemetery business. A part of the withdrawals…
1Opinion of the Court
OPINION.
Murdock, Judge:
The issues for decision are whether the Commissioner erred (1) by including in income for each year the entire amount received from the sale of burial crypts without subtracting or deducting the cost of constructing other crypts and (2) in adding to income interest from municipal bonds withdrawn by the petitioner from a trust. The parties’ stipulation of facts and exhibits attached thereto, together with Exhibit 19, are adopted as findings of fact.
John J. Harden will be referred to herein as the petitioner. Frances, from whom he was divorced on May 26, 1947, and Helen,…
2Cited by17 opinions
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- Metairie Cemetery Association v. United StatesCourt of Appeals for the Fifth Circuit · 1960
- Golden Gate Litho v. CommissionerUnited States Tax Court · 1998
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