Legal Opinion
Trantina v. United States
Court of Appeals for the Ninth Circuit
Decided January 9, 2008No. 05-16102PublishedCited by 13 opinions
1Opinion of the Court
BYBEE, Circuit Judge:
This case requires us to determine whether a contract to provide insurance services can be treated as a capital asset under 26 U.S.C. § 1221(a). If the contract is a capital asset, then payments under the contract may be taxed as capital gains, which are taxed at a lower rate than ordinary income. We join the Seventh Circuit and conclude that the district court correctly found that these payments under the contract were ordinary income. Baker v. Comm’r, 338 F.3d 789, 793 (7th Cir.2003).
I. FACTS AND PROCEDURAL HISTORY
Charles E. Trantina served as an insurance agent for…
2Cases cited13 opinions
- Commissioner v. Gillette Motor Transport, Inc.Supreme Court of the United States · 1960
- Debra Laws v. Sony Music Entertainment, Inc., D/B/A Epic Records, a Delaware CorporationCourt of Appeals for the Ninth Circuit · 2006
- International Union Of Bricklayers & Allied Craftsman Local Union No. 20, Afl-Cio v. Martin Jaska, Inc.Court of Appeals for the Ninth Circuit · 1985
- Nelson Weaver Realty Company, and Nelson Weaver Mortgage Company, Inc. v. Commissioner of Internal RevenueCourt of Appeals for the Fifth Circuit · 1962
- United States v. Dresser Industries, Inc.Court of Appeals for the Fifth Circuit · 1963
8 more not listed; retrieve them via the Exa API.
3Cited by13 opinions
- Kelly Samson v. City of Bainbridge IslandCourt of Appeals for the Ninth Circuit · 2012
- Campbell v. CommissionerCourt of Appeals for the Eleventh Circuit · 2011
- Alderson v. United StatesDistrict Court, C.D. California · 2010
- Cendant Corp. & Subsidiaries v. Department of RevenueColorado Court of Appeals · 2009
- Cendant Corp. & Subsidiaries v. Department of RevenueColorado Court of Appeals · 2009
8 more not listed; retrieve them via the Exa API.