Landerman v. Commissioner
United States Tax Court
A partnership, of which two of the petitioners were partners, owned land and buildings. In the early spring of 1964, the partnership commenced negotiations for a ground lease with a prospective tenant. The negotiations contemplated prompt demolition of the buildings. The lease, executed on Sept. 30, 1964, provided that the tenant should have the option to demolish.
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A partnership, of which two of the petitioners were partners, owned land and buildings. In the early spring of 1964, the partnership commenced negotiations for a ground lease with a prospective tenant. The negotiations contemplated prompt demolition of the buildings. The lease, executed on Sept. 30, 1964, provided that the tenant should have the option to demolish. Demolition occurred in 1965. Held, the demolition was "pursuant to the requirements of a lease" ( sec. 1.165-3(b)(2), Income Tax Regs.); the partnership is not entitled to deduct a demolition loss in 1965 but is required to…
1Opinion of the Court
Herman Landerman, et al., 1 Petitioners v. Commissioner of Internal Revenue, Respondent
Landerman v. Commissioner
Docket Nos. 3075-68, 3076-68, 5229-68
United States Tax Court
54 T.C. 1042; 1970 U.S. Tax Ct. LEXIS 138;
May 20, 1970, Filed
Decisions will be entered under Rule 50.
A partnership, of which two of the petitioners were partners, owned land and buildings. In the early spring of 1964, the partnership commenced negotiations for a ground lease with a prospective tenant. The negotiations contemplated prompt demolition of the buildings. The lease, executed on Sept. 30, 1964, provided that the…
2Cases cited15 opinions
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- Young v. Commissioner of Internal RevenueCourt of Appeals for the Ninth Circuit · 1932
- Anahma Realty Corporation v. Commissioner of Int. Rev.Court of Appeals for the Second Circuit · 1930
- Meyer Feldman v. Wilson B. Wood, Director of Internal Revenue for ArizonaCourt of Appeals for the Ninth Circuit · 1964
- Hillside Nat'l Bank v. CommissionerUnited States Tax Court · 1961
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