Nickoll v. Commissioner
United States Tax Court
Held, petitioners not entitled to deduct as a demolition loss the adjusted basis of a building owned by them that was partially demolished under terms of a new lease to make way for a building constructed to meet new tenant's needs.
1Opinion of the Court
Deennen, Judge:
Respondent determined a deficiency in petitioners’ income tax for the calendar year 1953 in the amount of $4,922.90. The issues are whether petitioners are entitled to a deduction for a loss sustained by virtue of the voluntary demolition of a building owned by them in the year 1953, and if such loss is deductible, the amount thereof.
FINDINGS OP PACT.
Some of the facts have been stipulated and are incorporated herein by this reference.
Petitioner B. E. Nickoll was a resident of Milwaukee, Wisconsin, and filed his income tax return for the year 1953 with the district director of…
2Cases cited13 opinions
- Chesbro v. CommissionerUnited States Tax Court · 1953
- A. Raymond Jones and Mary Lou Jones, Husband and Wife v. Commissioner of Internal RevenueCourt of Appeals for the Fifth Circuit · 1958
- Jones v. CommissionerUnited States Tax Court · 1956
- Appleby v. CommissionerUnited States Board of Tax Appeals · 1940
- Commissioner of Internal Rev. v. Appleby's EstateCourt of Appeals for the Second Circuit · 1941
8 more not listed; retrieve them via the Exa API.
3Cited by11 opinions
- Gilman v. CommissionerUnited States Tax Court · 1979
- Landerman v. CommissionerUnited States Tax Court · 1970
- Estate of Clara Nickoll, Deceased, B. E. Nickoll, and B. E. Nickoll, Individually v. Commissioner of Internal RevenueCourt of Appeals for the Seventh Circuit · 1960
- Levinson v. CommissionerUnited States Tax Court · 1973
- Gorman v. CommissionerUnited States Tax Court · 1974
6 more not listed; retrieve them via the Exa API.