Hoopengarner v. Commissioner
United States Tax Court
In April of 1976, petitioner acquired a leasehold interest in a parcel of undeveloped land. The lease, which ran for 52 1/2 years at the time of acquisition, required petitioner to construct and operate an office building on the leased premises. During 1976, petitioner made rental payments pursuant to the lease.
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In April of 1976, petitioner acquired a leasehold interest in a parcel of undeveloped land. The lease, which ran for 52 1/2 years at the time of acquisition, required petitioner to construct and operate an office building on the leased premises. During 1976, petitioner made rental payments pursuant to the lease. Construction of the building was completed in September of 1977. Held, the 1976 rental payments are not deductible pursuant to sec. 162, I.R.C. 1954, since petitioner was not carrying on a trade or business at the time they were made. Held, further, part of the rental payments are…
1Opinion of the Court
Herschel H. Hoopengarner and Roberta S. Hoopengarner, Petitioners v. Commissioner of Internal Revenue, Respondent
Hoopengarner v. Commissioner
Docket No. 14462-79
United States Tax Court
80 T.C. 538; 1983 U.S. Tax Ct. LEXIS 103; 80 T.C. No. 26;
March 21, 1983, Filed
Decision will be entered under Rule 155.
In April of 1976, petitioner acquired a leasehold interest in a parcel of undeveloped land. The lease, which ran for 52 1/2 years at the time of acquisition, required petitioner to construct and operate an office building on the leased premises. During 1976, petitioner made rental payments…
Also in this document: Dissent.
2Cases cited39 opinions
- Jack E. Golsen and Sylvia H. Golsen v. Commissioner of Internal RevenueCourt of Appeals for the Tenth Circuit · 1971
- United States v. GilmoreSupreme Court of the United States · 1963
- Trust Under the Will of Bingham v. CommissionerSupreme Court of the United States · 1945
- Woodward v. CommissionerSupreme Court of the United States · 1970
- Commissioner v. Idaho Power Co.Supreme Court of the United States · 1974
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