Moses Lake Homes, Inc. v. Commissioner
United States Tax Court
Petitioners were engaged in the operation of Wherry Housing Projects located on Larson Air Force Base. On March 1, 1958, the United States Department of the Air Force commenced a condemnation suit, thereby acquiring title to the leasehold estates held by petitioners. Held: 1. Petitioners are entitled to deduct depreciation on leasehold improvements for a portion of the years in which condemnation occurred.
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Petitioners were engaged in the operation of Wherry Housing Projects located on Larson Air Force Base. On March 1, 1958, the United States Department of the Air Force commenced a condemnation suit, thereby acquiring title to the leasehold estates held by petitioners. Held: 1. Petitioners are entitled to deduct depreciation on leasehold improvements for a portion of the years in which condemnation occurred. Wyoming Builders, Inc. v. United States, 227 F. Supp. 534 (D. Wyo. 1964), on appeal (C.A. 10, May 28, 1964), and Macabe Company, Inc., 42 T.C. 1105, followed. 2. Petitioners are entitled to…
1Opinion of the Court
Moses Lake Homes, Inc., Cliff Mortensen, Liquidating Trustee, et al. 1 v. Commissioner.
Moses Lake Homes, Inc. v. Commissioner
Docket Nos. 90962-90964.
United States Tax Court
T.C. Memo 1964-289; 1964 Tax Ct. Memo LEXIS 48; 23 T.C.M. (CCH) 1756; T.C.M. (RIA) 64289;
November 5, 1964
Petitioners were engaged in the operation of Wherry Housing Projects located on Larson Air Force Base. On March 1, 1958, the United States Department of the Air Force commenced a condemnation suit, thereby acquiring title to the leasehold estates held by petitioners. Held:
1. Petitioners are entitled to deduct…
2Cases cited36 opinions
- Crane v. CommissionerSupreme Court of the United States · 1947
- Burnet v. Sanford & Brooks Co.Supreme Court of the United States · 1931
- United States v. LudeySupreme Court of the United States · 1927
- Weiss v. WeinerSupreme Court of the United States · 1929
- Helvering v. F. & R. Lazarus & Co.Supreme Court of the United States · 1939
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3Cited by1 opinion
- I. J. And Ilene J. Wagner v. Commissioner of Internal RevenueCourt of Appeals for the Tenth Circuit · 1975