Graham v. Commissioner
United States Tax Court
Held, that amounts received by the petitioner in the years 1954 and 1955 pursuant to awards of the Mixed Claims Commission, United States and Germany, constituted ordinary income, and not amounts received on retirement of evidences of indebtedness of a government or political subdivision thereof, in registered form, within the contemplation of section 1232(a)(1) of the Internal Revenue Code of 1954.
1Opinion of the Court
Atkins, Judge:
The respondent determined deficiencies in income tax for the taxable years 1954 and 1955 in the respective amounts of $803.87 and $839.77..The question, presented is whether certain payments received by the petitioner in the years in question pursuant to an award of the Mixed Claims Commission, United States and Germany, constituted ordinary income or capital gain.
FINDINGS OF FACT.
Some of the facts have been stipulated and the stipulations are incorporated herein by this reference.
The petitioner is an individual residing in Tarrytown, New York. For the taxable years 1954 and…
2Cases cited11 opinions
- Gerard v. HelveringCourt of Appeals for the Second Circuit · 1941
- Tobey v. CommissionerUnited States Tax Court · 1956
- Adrian & James, Inc. v. CommissionerUnited States Tax Court · 1945
- National City Lines, Inc. v. United StatesCourt of Appeals for the Third Circuit · 1952
- Gerard v. CommissionerUnited States Board of Tax Appeals · 1939
6 more not listed; retrieve them via the Exa API.
3Cited by9 opinions
- Richard T. Graham v. Commissioner of Internal RevenueCourt of Appeals for the Second Circuit · 1962
- Agency of Canadian Car & Foundry Co. v. CommissionerUnited States Tax Court · 1962
- Bellamy v. CommissionerUnited States Tax Court · 1965
- Greenvine Corp. v. CommissionerUnited States Tax Court · 1963
- 84 Woodbine St. Realty Corp. v. CommissionerUnited States Tax Court · 1963
4 more not listed; retrieve them via the Exa API.