Legal Opinion
Estate of Leon Israel, Jr., Barry W. Gray, and Audrey H. Israel v. Commissioner
United States Tax Court
Decided April 1, 1997No. 31588-88, 13142-89Unknown
1Opinion of the Court
108 T.C. No. 13
UNITED STATES TAX COURT ESTATE OF LEON ISRAEL, JR., DECEASED, BARRY W. GRAY, EXECUTOR, AND AUDREY H. ISRAEL, Petitioners v. COMMISSIONER OF INTERNAL REVENUE, Respondent JONATHAN P. WOLFF AND MARGARET A. WOLFF, Petitioners v. COMMISSIONER OF INTERNAL REVENUE, Respondent Docket Nos. 31588-88, 13142-89. Filed April 1, 1997. Held: Fees paid in connection with "cancellation" of legs of commodity forward contracts treated as capital losses, not ordinary losses. The opinion of the U.S. Court of Appeals for the District of Columbia Circuit in Stoller v. Commissioner,
994 F.2d 855
(D.C.…
2Cases cited42 opinions
- Jack E. Golsen and Sylvia H. Golsen v. Commissioner of Internal RevenueCourt of Appeals for the Tenth Circuit · 1971
- Corn Products Refining Co. v. CommissionerSupreme Court of the United States · 1956
- Commissioner v. P. G. Lake, Inc.Supreme Court of the United States · 1958
- Board of Trade of Chicago v. Christie Grain & Stock Co.Supreme Court of the United States · 1905
- James E. Sochin v. Commissioner of Internal Revenue, Dennis S. Brown v. Commissioner of Internal RevenueCourt of Appeals for the Ninth Circuit · 1988
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