Holmes v. Commissioner
United States Tax Court
Taxpayer, an independent film producer, donated two films of his own production to certain qualified charities and claimed deductions under sec. 170, I.R.C. 1954. In disallowing such deductions, the Commissioner contended that the donations did not qualify, inter alia, because they were in the nature of services rather than of property. Held, the donation of each film constituted a contribution of property, and not of services.
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Taxpayer, an independent film producer, donated two films of his own production to certain qualified charities and claimed deductions under sec. 170, I.R.C. 1954. In disallowing such deductions, the Commissioner contended that the donations did not qualify, inter alia, because they were in the nature of services rather than of property. Held, the donation of each film constituted a contribution of property, and not of services. Held, further, the film productions had fair market values of $ 1,500 and $ 3,000, respectively.
1Opinion of the Court
Forrester, Judge:
Respondent has determined a deficiency in petitioners’ income tax of $392.72 for the taxable year 1967. The question presented for our decision is whether petitioners are entitled to charitable deductions in respect of petitioners’ donation of two film productions to certain charities, and, if so, what the fair market values of those productions were at the time of donation.
FINDINGS OF FACT
■Some of the facts have been stipulated and are so found. The stipulation and any exhibits attached thereto are incorporated herein by this reference.
Petitioners were husband and wife…
2Cases cited8 opinions
- McSpadden v. CommissionerUnited States Tax Court · 1968
- SoRelle v. CommissionerUnited States Tax Court · 1954
- Campbell, Collector of Internal Revenue v. Prothro Et UxCourt of Appeals for the Fifth Circuit · 1954
- Farrier v. CommissionerUnited States Tax Court · 1950
- Cox v. CommissionerUnited States Tax Court · 1971
3 more not listed; retrieve them via the Exa API.
3Cited by16 opinions
- Kerry Inv. Co. v. CommissionerUnited States Tax Court · 1972
- Grant v. CommissionerUnited States Tax Court · 1985
- Cupler v. CommissionerUnited States Tax Court · 1975
- Tobey v. Comm'rUnited States Tax Court · 1973
- Goss v. CommissionerUnited States Tax Court · 1973
11 more not listed; retrieve them via the Exa API.