Legal Opinion
Alois M. Sonnleitner and Mildred A. Sonnleitner v. Commissioner of Internal Revenue
Court of Appeals for the Fifth Circuit
Decided July 9, 1979No. 77-1702PublishedCited by 29 opinions
1Opinion of the Court
INGRAHAM, Circuit Judge:
This appeal involves the tax treatment of certain proceeds of the sale of a business which were allocated in the purchase agreement to a covenant not to compete. Taxpayers Alois and Mildred Sonnleitner reported the proceeds as capital gains on the sale of stock. 1 The Commissioner of Internal Revenue disputed the capital gains treatment of the proceeds, and the Tax Court agreed that the proceeds should have been reported as ordinary income. We affirm the decision of the Tax Court.
On October 11, 1954, Alois Sonnleitner and Cloyce Smith as equal partners purchased a…
2Cases cited11 opinions
- Commissioner v. DanielsonCourt of Appeals for the Third Circuit · 1967
- Ullman v. CommissionerCourt of Appeals for the Second Circuit · 1959
- Schulz v. CommissionerCourt of Appeals for the Ninth Circuit · 1961
- Charles W. Balthrope and Mary v. Balthrope v. Commissioner of Internal RevenueCourt of Appeals for the Fifth Circuit · 1966
- Commissioner of Internal Revenue v. Maurice L. KillianCourt of Appeals for the Fifth Circuit · 1963
6 more not listed; retrieve them via the Exa API.
3Cited by29 opinions
- Bernard D. Spector v. Commissioner of Internal RevenueCourt of Appeals for the Fifth Circuit · 1981
- Comdisco, Inc. v. United StatesCourt of Appeals for the Seventh Circuit · 1985
- Estate of Durkin v. CommissionerUnited States Tax Court · 1992
- Better Beverages, Inc. v. United StatesCourt of Appeals for the Fifth Circuit · 1980
- Brock v. Entre Computer Centers, Inc.Court of Appeals for the Fourth Circuit · 1991
24 more not listed; retrieve them via the Exa API.