Estate of Morris v. Commissioner
United States Tax Court
H and W owned improved real estate used in a business operated by H. This property was condemned. H and W brought other improved real estate and made specific plans to erect new facilities to be used for similar purposes. Work was begun in accordance with these plans, but H died before the execution of a formal written construction contract.
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H and W owned improved real estate used in a business operated by H. This property was condemned. H and W brought other improved real estate and made specific plans to erect new facilities to be used for similar purposes. Work was begun in accordance with these plans, but H died before the execution of a formal written construction contract. The replacement was subsequently effected by testamentary trustees under H's will in accordance with the plans and within the prescribed time limit of sec. 1033(a)(3)(B). Held, an election under sec. 1033(a)(3)(A) to defer recognition of the gain realized…
1Opinion of the Court
TaNNENwald, Judge:
Respondent determined a deficiency of $35,115.10 in the income tax of petitioners for the calendar year 1964. The sole issue presented concerns the applicability of section 10331 when a taxpayer who has received the proceeds from a condemnation of his property dies before replacement of the condemned property can be completely effected.
FINDINGS OF FACT
All of the facts have been stipulated and are found accordingly.
The petitioners in this case are the Estate of John E. Morris and Margaret H. Morris, the deceased’s widow. At the time their petition was filed, the office…
2Cases cited12 opinions
- Dixon v. United StatesSupreme Court of the United States · 1965
- Hanover Bank v. CommissionerSupreme Court of the United States · 1962
- Adolph K. Feinberg and Virginia B. Feinberg, His Wife v. Commissioner of Internal RevenueCourt of Appeals for the Eighth Circuit · 1967
- Demirjian v. CommissionerUnited States Tax Court · 1970
- Briggs v. WalkerSupreme Court of the United States · 1898
7 more not listed; retrieve them via the Exa API.
3Cited by12 opinions
- Estate of Jayne v. CommissionerUnited States Tax Court · 1974
- Demirjian v. CommissionerCourt of Appeals for the Third Circuit · 1972
- Estate of John E. Morris, Deceased. John M. Morris v. Commissioner of Internal RevenueCourt of Appeals for the Fourth Circuit · 1972
- Mihran Demirjian and Mabel Demirjian v. Commissioner of Internal Revenue. Estate of Anne Demirjian, Deceased, Frank Demirjian, and Frank Demirjian, Surviving Spouse v. Commissioner of Internal RevenueCourt of Appeals for the Third Circuit · 1972
- Templeton v. CommissionerUnited States Tax Court · 1976
7 more not listed; retrieve them via the Exa API.