Bolaris v. Commissioner
United States Tax Court
Petitioners listed their old residence with a real estate broker in July 1977 and began construction of a new residence. When the old residence was not sold within 90 days, they rented it on a month-to-month basis and continued their efforts to sell.
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Petitioners listed their old residence with a real estate broker in July 1977 and began construction of a new residence. When the old residence was not sold within 90 days, they rented it on a month-to-month basis and continued their efforts to sell. The property was rented from October 1977 until May 1978 and was ultimately sold in August 1978. Respondent disallowed claimed deductions for depreciation and expenses in excess of rental income, concluding that, since the old residence had not been converted to property held for the production of income, sec. 183, I.R.C. 1954, limited the amount…
1Opinion of the Court
Stephen Bolaris and Valerie H. Bolaris, Petitioners v. Commissioner of Internal Revenue, Respondent
Bolaris v. Commissioner
Docket No. 17748-80
United States Tax Court
81 T.C. 840; 1983 U.S. Tax Ct. LEXIS 13; 81 T.C. No. 52;
November 8, 1983, Filed
Decision will be entered under Rule 155.
Petitioners listed their old residence with a real estate broker in July 1977 and began construction of a new residence. When the old residence was not sold within 90 days, they rented it on a month-to-month basis and continued their efforts to sell. The property was rented from October 1977 until May 1978 and was…
Also in this document: Concurrence; Dissent.
2Cases cited12 opinions
- Jasionowski v. CommissionerUnited States Tax Court · 1976
- Brannen v. CommissionerUnited States Tax Court · 1982
- Stolk v. CommissionerUnited States Tax Court · 1963
- Robinson v. CommissionerUnited States Tax Court · 1943
- Horrmann v. CommissionerUnited States Tax Court · 1951
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