Thompson v. Commissioner
United States Tax Court
Investment Credit. -- On Dec. 4, 1957, petitioners entered into a lease agreement with the owners of certain premises located in Tucson, Ariz., for a period of over 8 years. Shortly thereafter petitioners conducted on these leased premises a business known as Redwood Lodge until Apr. 2, 1962. On that date petitioners sold the business, including all the personal property used in connection therewith, to Redwood Gay Nineties Lodge, a corporation.
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Investment Credit. -- On Dec. 4, 1957, petitioners entered into a lease agreement with the owners of certain premises located in Tucson, Ariz., for a period of over 8 years. Shortly thereafter petitioners conducted on these leased premises a business known as Redwood Lodge until Apr. 2, 1962. On that date petitioners sold the business, including all the personal property used in connection therewith, to Redwood Gay Nineties Lodge, a corporation. To secure part of the purchase price, a note and chattel mortgage were given. The purchasers failed to make the payments on the said note and…
1Opinion of the Court
Don R. Thompson and Mildred Thompson, Petitioners v. Commissioner of Internal Revenue, Respondent
Thompson v. Commissioner
Docket No. 879-66
United States Tax Court
49 T.C. 230; 1967 U.S. Tax Ct. LEXIS 7;
December 15, 1967, Filed
Decision will be entered under Rule 50.
Investment Credit. -- On Dec. 4, 1957, petitioners entered into a lease agreement with the owners of certain premises located in Tucson, Ariz., for a period of over 8 years. Shortly thereafter petitioners conducted on these leased premises a business known as Redwood Lodge until Apr. 2, 1962. On that date petitioners sold the…
2Cases cited2 opinions
- Madison Newspapers, Inc. v. CommissionerUnited States Tax Court · 1967
- Thompson v. CommissionerUnited States Tax Court · 1967