Legal Opinion
Coye C. Mason and Lois T. Mason, Cross-Appellants v. United States of America, Cross-Appellee
Court of Appeals for the Seventh Circuit
Decided March 17, 1975No. 74-1299, 74-1300PublishedCited by 17 opinions
1Opinion of the Court
STEVENS, Circuit Judge.
Before 1969 1 taxpayer sold property to a charity for a stated price substantially equal to the fair market value of the property; the price was paid by the charity’s delivery of a small amount of cash and an unsecured long-term promissory note in the amount of the balance. The market value of the note was substantially lower than its face amount. The questions presented by this appeal are (1) whether the taxpayer made a gift to the charity and, if so, (2) whether the benefit conferred on the charity is being returned to taxpayer as installments of principal, plus…
2Cases cited12 opinions
- Commissioner v. DubersteinSupreme Court of the United States · 1960
- Commissioner v. National Alfalfa Dehydrating & Milling Co.Supreme Court of the United States · 1974
- Thomas M. Hannigan and Tru-Han Corporation v. Sears, Roebuck and Co.Court of Appeals for the Seventh Circuit · 1969
- Alice Phelan Sullivan Corporation, a California Corporation v. The United StatesUnited States Court of Claims · 1967
- Singer Co. v. United StatesUnited States Court of Claims · 1971
7 more not listed; retrieve them via the Exa API.
3Cited by17 opinions
- Southern Pacific Transp. Co. v. CommissionerUnited States Tax Court · 1980
- Lester Crown v. Commissioner of Internal RevenueCourt of Appeals for the Seventh Circuit · 1978
- Greenspun v. CommissionerUnited States Tax Court · 1979
- Estate of Bullard v. CommissionerUnited States Tax Court · 1986
- Esther C. Dickman, Estate of Paul B. Dickman, Deceased, G. Wendell Smith, Personal Representative v. Commissioner of Internal RevenueCourt of Appeals for the Eleventh Circuit · 1983
12 more not listed; retrieve them via the Exa API.