Mauldin v. Commissioner
United States Tax Court
Petitioners contributed corporate stock to a duly qualified tax-exempt charitable organization in 1965, a series of cartoons to the Smithsonian Institution in 1966, and a group of manuscripts and sketches to the Library of Congress in 1967. In their income tax return for each of these years, petitioners claimed a charitable contribution deduction under sec. 170, I.R.C. 1954, in the amount of their estimate of the value of each respective gift, and respondent determined that…
Read the full summary
Petitioners contributed corporate stock to a duly qualified tax-exempt charitable organization in 1965, a series of cartoons to the Smithsonian Institution in 1966, and a group of manuscripts and sketches to the Library of Congress in 1967. In their income tax return for each of these years, petitioners claimed a charitable contribution deduction under sec. 170, I.R.C. 1954, in the amount of their estimate of the value of each respective gift, and respondent determined that the claimed deduction for each year was excessive. Held, the fair market value of each of the gifts is determined. Due…
1Opinion of the Court
Featherston, Judge:
Respondent determined deficiencies in petitioners’ Federal income taxes for 1965,1966, and 1967 in the amounts of $7,877.86, $8,560.17, and $6,517.40, respectively, and an addition to tax under section 6651(a)1 in the amount of $2,140.04 for 1966. Due to concessions by petitioners, the issues remaining for decision require (1) the valuation of certain charitable contributions made during 1965 (corporate stock), 1966 (a collection of cartoons), and 1967 (original manuscripts and sketches) and (2) a determination of whether there was reasonable cause for petitioners’ delay in…
2Cases cited10 opinions
- George A. Fuller Co. v. United StatesUnited States Court of Claims · 1947
- Kaplan v. CommissionerUnited States Tax Court · 1965
- Elliott v. CommissionerUnited States Tax Court · 1963
- Kean v. CommissionerUnited States Tax Court · 1968
- Estate of Frank Duttenhofer, Deceased, Albert J. Uhlenbrock and William Duttenhofer, Co-Executors v. Commissioner of Internal RevenueCourt of Appeals for the Sixth Circuit · 1969
5 more not listed; retrieve them via the Exa API.
3Cited by28 opinions
- BJR Corp. v. CommissionerUnited States Tax Court · 1976
- Price v. Time, Inc.Court of Appeals for the Eleventh Circuit · 2005
- Grant v. CommissionerUnited States Tax Court · 1985
- Cupler v. CommissionerUnited States Tax Court · 1975
- Transamerica Corp. v. United StatesUnited States Court of Claims · 1988
23 more not listed; retrieve them via the Exa API.