Gundersheim v. Commissioner
United States Tax Court
On Aug. 27, 1975, petitioners purchased 100 shares in a cooperative apartment corporation. The building in which the cooperative was located had been previously used for commercial purposes. Adaptation of the building for residential use began prior to Mar. 26, 1975. Petitioners were the first residential users of the cooperative apartment.
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On Aug. 27, 1975, petitioners purchased 100 shares in a cooperative apartment corporation. The building in which the cooperative was located had been previously used for commercial purposes. Adaptation of the building for residential use began prior to Mar. 26, 1975. Petitioners were the first residential users of the cooperative apartment. Held, petitioners' cooperative apartment qualified as a "new principal residence" within the meaning of sec. 44(e)(1), I.R.C. 1954, and sec. 1.44-5(a), Income Tax Regs.Held, further, petitioners are entitled to the sec. 44 tax credit on the purchase of the…
1Opinion of the Court
Arthur Gundersheim and Lorelei J. Gundersheim, Petitioners v. Commissioner of Internal Revenue, Respondent
Gundersheim v. Commissioner
Docket No. 2143-79
United States Tax Court
74 T.C. 573; 1980 U.S. Tax Ct. LEXIS 114;
June 12, 1980, Filed
Decision will be entered under Rule 155.
On Aug. 27, 1975, petitioners purchased 100 shares in a cooperative apartment corporation. The building in which the cooperative was located had been previously used for commercial purposes. Adaptation of the building for residential use began prior to Mar. 26, 1975. Petitioners were the first residential users of the…
2Cases cited2 opinions
- Dobin v. CommissionerUnited States Tax Court · 1980
- Gundersheim v. CommissionerUnited States Tax Court · 1980