Dirico v. Comm'r
United States Tax Court
P-H leased land and telecommunication towers to S, his wholly owned S corporation, in exchange for a percentage of S's revenues from its leases of tower access to third parties. P-H also leased three parcels of land to S that were without towers. S also sold and serviced radios and provided specialized mobile radio (SMR) services to customers for a monthly subscriber fee.
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P-H leased land and telecommunication towers to S, his wholly owned S corporation, in exchange for a percentage of S's revenues from its leases of tower access to third parties. P-H also leased three parcels of land to S that were without towers. S also sold and serviced radios and provided specialized mobile radio (SMR) services to customers for a monthly subscriber fee. Four of the towers leased to S housed antennas in free (unused) space for the rent-free use of S's SMR customers. P-H reported the net income from his leases to S as passive activity rental income pursuant to I.R.C. sec.…
1Opinion of the Court
Halpern, Judge:
By notice of deficiency respondent determined deficiencies in petitioners’ Federal income tax liabilities of $69,910 and $216,845 for their 2004 and 2005 taxable, calendar, years (years in issue), respectively.
Unless otherwise indicated, all section references are to the Internal Revenue Code in effect for the years in issue. All dollar amounts have been rounded to the nearest dollar.
The issues for decision are (1) whether rental income paid to Francis J. Dirico (petitioner), or to one of his wholly owned grantor or nominee trusts, by his wholly owned subchapter S corporation…
2Cases cited10 opinions
- Seligman v. CommissionerUnited States Tax Court · 1985
- Concord Consumers Hous. Coop. v. CommissionerUnited States Tax Court · 1987
- Sidell v. CommissionerCourt of Appeals for the First Circuit · 2000
- Ware v. CommissionerUnited States Tax Court · 1989
- R. Timmis Ware and Catherine K. Ware v. Commissioner of Internal RevenueCourt of Appeals for the Second Circuit · 1990
5 more not listed; retrieve them via the Exa API.
3Cited by3 opinions
- John E. Rogers & Frances L. Rogers v. CommissionerUnited States Tax Court · 2018
- Vichich v. Comm'rUnited States Tax Court · 2016
- Dirico v. Comm'rUnited States Tax Court · 2012