Legal Opinion
Crane v. Commissioner
Supreme Court of the United States
Decided April 14, 1947No. 68PublishedCited by 729 opinions
1Opinion of the CourtChief Justice Vinson
The question here is how a taxpayer who acquires de-preciable property subject to an unassumed mortgage, holds it for a period, and finally sells it still so encumbered, must compute her taxable gain.
*3Petitioner was the sole beneficiary and the executrix of the will of her husband, who died January 11, 1932. He then owned an apartment building and lot subject to a mortgage,1 which secured a principal debt of $255,000.00 and interest in default of $7,042.50. As of that date, the property was appraised for federal estate tax purposes at a value exactly equal to the total amount of this…
2Cases cited20 opinions
- Dobson v. CommissionerSupreme Court of the United States · 1944
- Crooks v. HarrelsonSupreme Court of the United States · 1930
- Old Colony Railroad v. CommissionerSupreme Court of the United States · 1932
- Douglas v. WillcutsSupreme Court of the United States · 1935
- Trust Under the Will of Bingham v. CommissionerSupreme Court of the United States · 1945
15 more not listed; retrieve them via the Exa API.
3Cited by729 opinions
- Commissioner v. BrownSupreme Court of the United States · 1965
- Malat v. RiddellSupreme Court of the United States · 1966
- E.A. Brannen and Frances K. Brannen v. Commissioner of Internal RevenueCourt of Appeals for the Eleventh Circuit · 1984
- Brannen v. CommissionerUnited States Tax Court · 1982
- Hanover Bank v. CommissionerSupreme Court of the United States · 1962
724 more not listed; retrieve them via the Exa API.