Legal Opinion
McCoy v. Commissioner of Internal Revenue
Court of Appeals for the Tenth Circuit
Decided November 12, 1951No. 4271_1PublishedCited by 14 opinions
1Opinion of the Court
HUXMAN, Circuit Judge.
The question presented by this appeal is whether the entire gain realized on a sale of a farm owned by a taxpayer for more than six months and used in his business as a farmer and having on it at the time of sale a growing wheat crop is to be treated as capital gain, under § 117(j) of the Internal Revenue Code, 26 U.S.C.A. § 117(j), or whether a portion thereof must be allocated to the growing crop and be treated as ordinary income from the taxpayer’s business of raising, harvesting and marketing grain.
Thomas J. McCoy, herein called the taxpayer, was a farmer, engaged in…
2Cases cited15 opinions
- Burnet v. HarmelSupreme Court of the United States · 1932
- Morgan v. CommissionerSupreme Court of the United States · 1940
- First National Bank of Clay Centre v. BeegleSupreme Court of Kansas · 1894
- Garanflo v. CooleySupreme Court of Kansas · 1885
- C. C. Isely Lumber Co. v. KitchSupreme Court of Kansas · 1927
10 more not listed; retrieve them via the Exa API.
3Cited by14 opinions
- Watson v. CommissionerSupreme Court of the United States · 1953
- Paul v. Commissioner of Internal RevenueCourt of Appeals for the Third Circuit · 1953
- Bidart Bros., a Corporation v. United StatesCourt of Appeals for the Ninth Circuit · 1959
- Jones v. WhittingtonCourt of Appeals for the Tenth Circuit · 1952
- Watson v. Commissioner of Internal RevenueCourt of Appeals for the Ninth Circuit · 1952
9 more not listed; retrieve them via the Exa API.