McCabe v. Commissioner
United States Tax Court
In 1965, petitioners lost the use and occupancy of their home as a result of a fire in their kitchen. Through a provision in their fire insurance policy, they were reimbursed for the additional expense of maintaining substitute living quarters. The policy did not relieve them of any of their normal living expenses.
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In 1965, petitioners lost the use and occupancy of their home as a result of a fire in their kitchen. Through a provision in their fire insurance policy, they were reimbursed for the additional expense of maintaining substitute living quarters. The policy did not relieve them of any of their normal living expenses. Held, that the insurance proceeds paid to reimburse petitioners for additional living expenses occasioned by the fire constitute gross income to them under sec. 61, I.R.C. 1954. I. Hal Millsap, Jr., 46 T.C. 751, 762, affd. 387 F. 2d 420 (C.A. 8, 1968), followed for years prior to…
1Opinion of the Court
OPINION
Dawson, Judge:
Respondent determined deficiencies in petitioners’ Federal income taxes for the years 1964 and 1965 in the amounts of $220.95 and $676.64, respectively.
Petitioners did not allege errors in the adjustments made by respondent for the year 1964. Certain concessions have been made by petitioners with respect to the year 1965. The only question presented for decision is whether $2,843.78 received by the petitioners in 1965 from an insurance company for additional living expenses occasioned by the loss of use of occupancy of their home constituted taxable income to them under…
2Cases cited17 opinions
- Commissioner v. Glenshaw Glass Co.Supreme Court of the United States · 1955
- Hort v. CommissionerSupreme Court of the United States · 1941
- Hanover Bank v. CommissionerSupreme Court of the United States · 1962
- Haggar Co. v. Helvering, Com'r of Internal RevenueSupreme Court of the United States · 1940
- Helvering v. Independent Life InsuranceSupreme Court of the United States · 1934
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3Cited by11 opinions
- Reading v. CommissionerUnited States Tax Court · 1978
- Pfalzgraf v. CommissionerUnited States Tax Court · 1977
- Cornelius v. CommissionerUnited States Tax Court · 1971
- Londagin v. CommissionerUnited States Tax Court · 1973
- Feistman v. CommissionerUnited States Tax Court · 1971
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