Hunt v. Commissioner
United States Tax Court
Mr. and Mrs. Hunt transferred large sums of money to their children between January and the end of March 1980 to enable the children to make margin calls in the silver and/or gold commodities markets or to take delivery of silver. The children had negative net worths on March 17, 1980. On March 27, 1980, their commodity accounts were involuntarily liquidated.
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Mr. and Mrs. Hunt transferred large sums of money to their children between January and the end of March 1980 to enable the children to make margin calls in the silver and/or gold commodities markets or to take delivery of silver. The children had negative net worths on March 17, 1980. On March 27, 1980, their commodity accounts were involuntarily liquidated. After March 27, 1980, Mr. and Mrs. Hunt transferred additional sums to cover deficits in the commodities accounts of the children. On December 28 or 29, 1980, Mr. and Mrs. Hunt demanded repayment of the total amount outstanding. On…
1Opinion of the Court
C. L. HUNT, ET AL., 1 Petitioners v. COMMISSIONER OF INTERNAL REVENUE, Respondent
Hunt v. Commissioner
Docket Nos 758-85, 759-85; 760-85, 761-85; 762-85, 763-85; 10239-87; 10240-87
United States Tax Court
T.C. Memo 1989-335; 1989 Tax Ct. Memo LEXIS 439; 57 T.C.M. (CCH) 919; T.C.M. (RIA) 89335;
July 13, 1989; As corrected January 3, 1990
Mr. and Mrs. Hunt transferred large sums of money to their children between January and the end of March 1980 to enable the children to make margin calls in the silver and/or gold commodities markets or to take delivery of silver. The children had negative net…
2Cases cited36 opinions
- Welch v. HelveringSupreme Court of the United States · 1933
- Gregory v. HelveringSupreme Court of the United States · 1935
- Deputy, Administratrix v. Du PontSupreme Court of the United States · 1940
- Commissioner v. DubersteinSupreme Court of the United States · 1960
- Commissioner v. HeiningerSupreme Court of the United States · 1943
31 more not listed; retrieve them via the Exa API.
3Cited by2 opinions
- Hunt v. CommissionerUnited States Tax Court · 1990
- Bullock v. Comm'rUnited States Tax Court · 2017