Appleby v. Commissioner
United States Board of Tax Appeals
1. Tenants in common of inherited real property which they improved and rented held not within the term partnership under section 801, Revenue Act of 1934, and each of them may offset the income from such property by his individual capital losses. 2. The basis for gain from a condemnation award in respect of inherited property held to include the cost of improvements and the basis of structures demolished for the purpose of new construction. 3. An amount added to a…
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1. Tenants in common of inherited real property which they improved and rented held not within the term partnership under section 801, Revenue Act of 1934, and each of them may offset the income from such property by his individual capital losses. 2. The basis for gain from a condemnation award in respect of inherited property held to include the cost of improvements and the basis of structures demolished for the purpose of new construction. 3. An amount added to a condemnation award because of a delay in payment held part of the award taxable as capital gain and not interest.
1Opinion of the Court
ESTATE OF EDGAR S. APPLEBY, DECEASED, EDGAR T. APPLEBY AND FRANCIS S. APPLEBY, CO-EXECUTORS, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
JOHN S. APPLEBY, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
Appleby v. Commissioner
Docket Nos. 93886, 94080.
United States Board of Tax Appeals
41 B.T.A. 18; 1940 BTA LEXIS 1248;
January 5, 1940, Promulgated
1. Tenants in common of inherited real property which they improved and rented held not within the term partnership under section 801, Revenue Act of 1934, and each of them may offset the income from such property by his…
2Cases cited9 opinions
- Poe v. SeabornSupreme Court of the United States · 1930
- Morrissey v. CommissionerSupreme Court of the United States · 1935
- Tyler v. United StatesSupreme Court of the United States · 1930
- Pinellas Ice & Cold Storage Co. v. CommissionerSupreme Court of the United States · 1933
- Helvering v. WinmillSupreme Court of the United States · 1938
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