Legal Opinion
Lobello v. Dunlap
Court of Appeals for the Fifth Circuit
Decided February 12, 1954No. 14551PublishedCited by 27 opinions
1Opinion of the Court
RIVES, Circuit Judge.
The question presented is whether the district court erred in holding that gain realized by the taxpayers in 1946 from each of three sales of real estate is taxable as ordinary income rather than capital gain. The taxpayers contend that the properties sold were capital assets within the meaning of Section 117(a) (1) of the Internal Revenue Code, 26 U. S.C.A., 1 and, accordingly, the gains realized from their sales were entitled to long-term capital gain treatment, the properties having been held in excess of six months.
The properties were located in Dallas County, Texas.…
2Cases cited1 opinion
- Victory Housing No. 2, Inc. v. Commissioner of Internal RevenueCourt of Appeals for the Tenth Circuit · 1953
3Cited by27 opinions
- Galena Oaks Corporation v. Frank Scofield, Collector of Internal RevenueCourt of Appeals for the Fifth Circuit · 1954
- Arthur W. Smith and Mrs. Arthur W. Smith v. Charles H. Dunn, Formerly Acting Collector of Internal RevenueCourt of Appeals for the Fifth Circuit · 1955
- Nathan D. Goldberg and S. E. Wood, Jr. v. Commissioner of Internal RevenueCourt of Appeals for the Fifth Circuit · 1955
- Harry P. Gamble, Jr., and Gretchen B. Gamble, Husband and Wife v. Commissioner of Internal RevenueCourt of Appeals for the Fifth Circuit · 1957
- Robert Thomas and Susan B. Thomas v. Commissioner of Internal RevenueCourt of Appeals for the Fifth Circuit · 1958
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