Powell v. Commissioner
United States Tax Court
Petitioners took legal title to their new principal residence on Feb. 21, 1975, but they did not occupy their residence until Mar. 22, 1975. Held, petitioners are not entitled to a credit under sec. 44, I.R.C. 1954, as amended, since they did not acquire their new principal residence within the time prescribed by sec. 44(e)(1)(B), I.R.C. 1954, as amended.
1Opinion of the Court
Robert L. Powell III and Belva H. Powell, Petitioners v. Commissioner of Internal Revenue, Respondent
Powell v. Commissioner
Docket No. 9750-79
United States Tax Court
74 T.C. 552; 1980 U.S. Tax Ct. LEXIS 115;
June 10, 1980, Filed
Decision will be entered for the respondent.
Petitioners took legal title to their new principal residence on Feb. 21, 1975, but they did not occupy their residence until Mar. 22, 1975. Held, petitioners are not entitled to a credit under sec. 44, I.R.C. 1954, as amended, since they did not acquire their new principal residence within the time prescribed by sec.…
2Cases cited3 opinions
- Shaw v. CommissionerUnited States Tax Court · 1978
- Dobin v. CommissionerUnited States Tax Court · 1980
- Powell v. CommissionerUnited States Tax Court · 1980