Legal Opinion
Vern H. Moberg and Reta N. Moberg v. Commissioner of Internal Revenue
Court of Appeals for the Fifth Circuit
Decided August 1, 1962No. 19312_1PublishedCited by 25 opinions
1Opinion of the Court
GRIFFIN B. BELL, Circuit Judge.
This appeal presents the issue of whether income received by taxpayers was ordinary income or income from the sale of a capital asset. 1 It is from a decision of the Tax Court. Moberg v. Commissioner of Internal Revenue, 1961, 35 T.C. 773. 2 The taxable years involved are 1948 and 1949.
Taxpayer and his brother, Theodore Moberg, each owned a one-half interest in a partnership known as “Dairy Queen Stores”. By way of background, Harry M. Oltz secured patent No. 2080971 in 1937 on a “Freezing and Dispensing Machine” which later became known as the Dairy Queen…
2Cases cited13 opinions
- Corliss v. BowersSupreme Court of the United States · 1930
- Griffiths v. CommissionerSupreme Court of the United States · 1939
- Commissioner of Internal Revenue v. HopkinsonCourt of Appeals for the Second Circuit · 1942
- Allen, Collector of Internal Revenue v. WernerCourt of Appeals for the Fifth Circuit · 1951
- Richard R. Lawrence and Wife, Dorothy Lawrence v. United StatesCourt of Appeals for the Fifth Circuit · 1957
8 more not listed; retrieve them via the Exa API.
3Cited by25 opinions
- Bell Intercontinental Corporation v. The United StatesUnited States Court of Claims · 1967
- Principal Life Insurance Company and Subsidiaries v. United StatesUnited States Court of Federal Claims · 2014
- United States v. WernentinCourt of Appeals for the Eighth Circuit · 1965
- Theodore E. Moberg and Pauline Moberg v. Commissioner of Internal RevenueCourt of Appeals for the Ninth Circuit · 1962
- Vern H. Moberg and Reta N. Moberg v. Commissioner of Internal RevenueCourt of Appeals for the Fifth Circuit · 1966
20 more not listed; retrieve them via the Exa API.