Legal Opinion
Vivian Smith, Individually and the Estate of Benjamin Burnet Smith, Deceased, Vivian Smith, Independent v. Commissioner of Internal Revenue
Court of Appeals for the Fifth Circuit
Decided April 6, 1956No. 15729PublishedCited by 26 opinions
1Opinion of the Court
BROWN, Circuit Judge.
This is another in that flooding stream1 of 117(j) (1) (B) cases, 26 U.S.C. § 117(j) (1) (B), 1946 edition, involving the question whether real property, claimed to have been held as an investment for rental, has, at the time of its sale, become “property held by the taxpayer primarily for sale to customers in the ordinary course of his trade or business.” If so, the gain is taxable as ordinary income; if not, it is treated as a capital gain.
Except for the holding on the very ultimate2 issue of the case and which the Tax Court denominated a Finding of Fact, Taxpayer’s3…
2Cases cited12 opinions
- Galena Oaks Corporation v. Frank Scofield, Collector of Internal RevenueCourt of Appeals for the Fifth Circuit · 1954
- Rollingwood Corp. v. Commissioner of Internal Revenue. Bohannon v. Commissioner of Internal RevenueCourt of Appeals for the Ninth Circuit · 1951
- 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
- Fahs v. CrawfordCourt of Appeals for the Fifth Circuit · 1947
- Nathan D. Goldberg and S. E. Wood, Jr. v. Commissioner of Internal RevenueCourt of Appeals for the Fifth Circuit · 1955
7 more not listed; retrieve them via the Exa API.
3Cited by26 opinions
- United States v. Ada Belle Winthrop, Individually and as Under the Will of Guy L. Winthrop, DeceasedCourt of Appeals for the Fifth Circuit · 1969
- Biedenharn Realty Co. v. United StatesCourt of Appeals for the Fifth Circuit · 1976
- Fritz Thompson and Dora M. Thompson v. Commissioner of Internal RevenueCourt of Appeals for the Fifth Circuit · 1963
- Suburban Realty Company v. United StatesCourt of Appeals for the Fifth Circuit · 1980
- Philber Equipment Corporation v. Commissioner of Internal RevenueCourt of Appeals for the Third Circuit · 1956
21 more not listed; retrieve them via the Exa API.