Legal Opinion
W. M. Yeaman and Ramona Yeaman v. United States
Court of Appeals for the Ninth Circuit
Decided October 17, 1978No. 76-2927PublishedCited by 12 opinions
1Opinion of the Court
GRANT, District Judge:
We are here presented with the question whether funds derived from oil and gas leases should be characterized as long-term capital gain from the sale of those leases, or as proceeds from the production of oil and considered ordinary income, subject to an allowance for depletion. *•
Plaintiffs filed a complaint claiming that they were entitled to refunds for the years 1970 and 1971, denied by the I.R.S. The district court determined that plaintiffs were not entitled to capital gain treatment concerning such proceeds and, consequently, were not entitled to the claimed…
2Cases cited11 opinions
- Commissioner v. DubersteinSupreme Court of the United States · 1960
- Automobile Club of Mich. v. CommissionerSupreme Court of the United States · 1957
- Palmer v. BenderSupreme Court of the United States · 1932
- Dixon v. United StatesSupreme Court of the United States · 1965
- Burton-Sutton Oil Co. v. CommissionerSupreme Court of the United States · 1946
6 more not listed; retrieve them via the Exa API.
3Cited by12 opinions
- James E. Peterson v. Harold Kennedy, Richard A. Berthelsen, and National Football League Players AssociationCourt of Appeals for the Ninth Circuit · 1985
- Baker v. Delta Air Lines, Inc.Court of Appeals for the Ninth Circuit · 1993
- William D. Little v. Commissioner of Internal RevenueCourt of Appeals for the Ninth Circuit · 1997
- Haygood v. YoungerDistrict Court, E.D. California · 1981
- Benson v. CommissionerUnited States Tax Court · 1983
7 more not listed; retrieve them via the Exa API.