Miller v. Commissioner
United States Tax Court
Held, petitioners' losses in trading in commodity futures straddles during 1979 allowed pursuant to the provisions of sec. 108 of the Tax Reform Act of 1984.
1Opinion of the Court
Whitaker, Judge:
Respondent determined a deficiency in income tax for petitioners’ 1979 taxable year in the amount of $104,236. Due to concessions, the sole issue for determination is the deductibility of short-term losses in the amount of $103,325 from trading in commodity futures straddles claimed on Schedule D of petitioners’ income tax return.
FINDINGS OF FACT
Some of the facts have been stipulated and are so found. Throughout the year 1979, petitioners were husband and wife, although they are now divorced. At the time of the filing of the petition in this case, each of petitioners was a…
2Cases cited27 opinions
- Commissioner v. South Texas Lumber Co.Supreme Court of the United States · 1948
- Knetsch v. United StatesSupreme Court of the United States · 1960
- United States v. CorrellSupreme Court of the United States · 1967
- Bingler v. JohnsonSupreme Court of the United States · 1969
- United States v. Vogel Fertilizer Co.Supreme Court of the United States · 1982
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3Cited by66 opinions
- Freytag v. CommissionerUnited States Tax Court · 1987
- Rose v. CommissionerUnited States Tax Court · 1987
- Glass v. CommissionerUnited States Tax Court · 1986
- Ewing v. CommissionerUnited States Tax Court · 1988
- Brown v. CommissionerUnited States Tax Court · 1985
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