Marsh & Marsh, Inc. v. Commissioner
United States Board of Tax Appeals
The petitioner bought a piece of property the actual cash value of which was not in excess of $25,000, and paid as the purchase price therefor the sum of $250 in cash and $250 per month, beginning on the first day of the next succeeding month, for 167 months. The total of these payments is $42,000. During the taxable years the petitioner was not entitled to deduct as interest any portion of the payments made during those years.
1Opinion of the Court
*904OPINION.
Murdock:
The petitioner would have us decide that the purchase price or cost of this property was not $42,000, as determined by the Commissioner, but was less than that amount, and was, in fact, $25,000. If facts, these matters were capable of proof and the burden of proving them was upon the petitioner.
In the contract it was stated that the purchase price was $250 in cash on the day of sale and 167 monthly payments of $250 each beginning on the first of the next month thereafter. These payments total $42,000. There is nothing in this contract which would indicate that the parties…
2Cited by8 opinions
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- Baltimore & Ohio R.R. v. CommissionerUnited States Board of Tax Appeals · 1933
- MacDonald v. CommissionerUnited States Board of Tax Appeals · 1934
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- Baltimore v. CommissionerUnited States Board of Tax Appeals · 1933
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