Legal Opinion
Lloyd W. Golder, Jr. And Esther Golder v. Commissioner of Internal Revenue
Court of Appeals for the Ninth Circuit
Decided September 20, 1979No. 77-1542PublishedCited by 40 opinions
1Opinion of the Court
BLUMENFELD, District Judge:
Taxpayers, Lloyd and Esther Golder, appeal the decision of the United States Tax Court which held that they could not deduct as interest under section 163(a) of the Internal Revenue Code of 1954 (I.R.C.) payments they made as guarantors of corporate obli gations of their closely-held corporation. We affirm.
Facts
The Golders (hereinafter taxpayers) were majority shareholders in a cattle ranch known as Rancho Vistoso, Inc. (hereinafter Rancho Vistoso). Mr. Golder was president of the corporation and a member of its board of directors, and Mrs. Golder was…
2Cases cited2 opinions
- Rushing v. CommissionerUnited States Tax Court · 1972
- Frank Nelson, Jr. And Lee Etta Nelson v. Commissioner of Internal RevenueCourt of Appeals for the Fifth Circuit · 1960
3Cited by40 opinions
- Southern Pacific Transp. Co. v. CommissionerUnited States Tax Court · 1980
- Hynes v. CommissionerUnited States Tax Court · 1980
- Byram v. United StatesCourt of Appeals for the Fifth Circuit · 1983
- Smith v. CommissionerUnited States Tax Court · 1985
- Jacob Abdalla and Mary T. Abdalla v. Commissioner of Internal RevenueCourt of Appeals for the Fifth Circuit · 1981
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