Legal Opinion
L & C Springs Associates v. Commissioner
Court of Appeals for the Seventh Circuit
Decided August 18, 1999No. 98-2970PublishedCited by 3 opinions
1Opinion of the Court
RIPPLE, Circuit Judge.
The Internal Revenue Service determined adjustments to L & C Springs Associates’ income tax returns; L & C Springs sought review in the United States Tax Court. The court ruled in the Commissioner’s favor, and L & C Springs appealed that judgment to this court. For the reasons set forth in the following opinion, we affirm the judgment of the Tax Court.
I
BACKGROUND
A. Tax Background
When a taxpayer sells property, the difference between the property’s amount realized (generally the amount paid for the property upon sale) and the property’s basis (generally the amount the…
2Cases cited10 opinions
- Commissioner v. Court Holding Co.Supreme Court of the United States · 1945
- Commissioner v. TuftsSupreme Court of the United States · 1983
- Diedrich v. CommissionerSupreme Court of the United States · 1982
- James A. Pittman v. Commissioner of Internal RevenueCourt of Appeals for the Seventh Circuit · 1996
- Cozzi v. CommissionerUnited States Tax Court · 1987
5 more not listed; retrieve them via the Exa API.
3Cited by3 opinions
- Coburn v. Comm'rUnited States Tax Court · 2005
- Coburn v. Comm'rUnited States Tax Court · 2006
- L&c Springs Associates, Century Capital Corporation, and Tax Matters Partner v. Commissioner of Internal RevenueCourt of Appeals for the Seventh Circuit · 1999