Leslie v. Commissioner
United States Tax Court
1. Deduction -- Loss -- Transfer Entered into for Profit -- Residence. -- A residence of the petitioner was damaged by a hurricane in 1938 and was never thereafter occupied. A real estate agent was allowed to try to find a purchaser after the hurricane, but never succeeded.
Read the full summary
1. Deduction -- Loss -- Transfer Entered into for Profit -- Residence. -- A residence of the petitioner was damaged by a hurricane in 1938 and was never thereafter occupied. A real estate agent was allowed to try to find a purchaser after the hurricane, but never succeeded. The property was transferred to the mortgagee in 1940. Held, the loss, if any, was not from a transaction entered into for profit within section 23 (e) (2). 2. Deduction -- Nonbusiness Expenses. -- Expenses of a caretaker for the property after the hurricane were not deductible under section 23 (a) (2) as ordinary and…
1Opinion of the Court
Warren Leslie, Sr., and Estate of May K. Leslie, Deceased, Warren Leslie, Sr., Executor, Petitioners, v. Commissioner of Internal Revenue, Respondent
Leslie v. Commissioner
Docket No. 4619
United States Tax Court
6 T.C. 488; 1946 U.S. Tax Ct. LEXIS 262;
March 15, 1946, Promulgated
Decision will be entered under Rule 50.
1. Deduction -- Loss -- Transfer Entered into for Profit -- Residence. -- A residence of the petitioner was damaged by a hurricane in 1938 and was never thereafter occupied. A real estate agent was allowed to try to find a purchaser after the hurricane, but never succeeded. The…
Also in this document: Dissent.
2Cases cited5 opinions
- Higgins v. CommissionerSupreme Court of the United States · 1941
- Leslie v. CommissionerUnited States Tax Court · 1946
- Robinson v. CommissionerUnited States Tax Court · 1943
- Saltonstall v. CommissionerUnited States Tax Court · 1943
- Evans v. EvansSupreme Court of Iowa · 1926