Ottawa Park Realty Co. v. Commissioner
United States Board of Tax Appeals
Interest and taxes paid during the period of development of real estate for subdivision and sale may not be capitalized and treated as a part of the cost of such property.
1Opinion of the Court
APPEAL OF THE OTTAWA PARK REALTY CO.
Ottawa Park Realty Co. v. Commissioner
Docket No. 5907.
United States Board of Tax Appeals
5 B.T.A. 474; 1926 BTA LEXIS 2852;
November 12, 1926, Decided
Interest and taxes paid during the period of development of real estate for subdivision and sale may not be capitalized and treated as a part of the cost of such property.
Ray E. Zachman, Esq., for the petitioner.
Arthur H. Fast, Esq., for the Commissioner.
TRAMMELL
Petitioner appeals from the determination of a deficiency of $4,746.04 in income and profits taxes for 1919. It alleges that the Commissioner committed…
2Cases cited1 opinion
- Ottawa Park Realty Co. v. CommissionerUnited States Board of Tax Appeals · 1926