Mount Hope Cemetery Ass'n v. Commissioner
United States Board of Tax Appeals
In determining the gain or loss from the disposition of burial space in a cemetery, the amount realized may be reduced by the basis which the land has. Where the lots sold in the taxable year were a part of a larger area owned by the taxpayer on March 1, 1913, their basis is a part of the fair market value on the basic date of the entire area.
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In determining the gain or loss from the disposition of burial space in a cemetery, the amount realized may be reduced by the basis which the land has. Where the lots sold in the taxable year were a part of a larger area owned by the taxpayer on March 1, 1913, their basis is a part of the fair market value on the basic date of the entire area. Although prices at which the petitioner was selling individual lots on or about March 1, 1913, are substantial evidence relating to the question of the fair market value of the remaining area, which included comparable lots, nevertheless, such evidence…
1Opinion of the Court
*681OPINION.
MuRDOck:
The petitioner in 1930 received $58,001.50 and in 1931 received $48,883.23 from persons to whom it sold burial space in its cemetery. Those amounts are not in dispute. The petitioner now seeks to reduce those amounts by $30,095.76 for 1930 and by $27,338.01 for 1931, as the fair market value on March 1, 1913, of the lots sold in the two taxable years. It claimed smaller amounts on its returns — $15,157.38 for 1930 and $13,721.45 for 1931. The Commissioner in determining the deficiencies allowed even smaller, reductions — $7,635.56 for 1930 and $4,346.08 for 1931. He does not…
2Cases cited13 opinions
- United States v. LudeySupreme Court of the United States · 1927
- Bogardus v. CommissionerSupreme Court of the United States · 1937
- Palmer v. CommissionerSupreme Court of the United States · 1937
- Reinecke v. SpaldingSupreme Court of the United States · 1930
- Helvering v. Twin Bell Oil SyndicateSupreme Court of the United States · 1934
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3Cited by5 opinions
- Commissioner of Internal Revenue v. Cedar Park Cemetery Ass'n, IncCourt of Appeals for the Seventh Circuit · 1950
- Meadow Land & Improvement Co. v. CommissionerCourt of Appeals for the Third Circuit · 1941
- Mount Hope Cemetery Ass'n v. CommissionerUnited States Board of Tax Appeals · 1938
- National Mem. Park, Inc. v. CommissionerUnited States Tax Court · 1943
- Oak Woods Cemetery Ass'n v. CommissionerUnited States Board of Tax Appeals · 1938