§1005

OVERRULED Estate of Algerine Allen Smith, Deceased; James Allen Smith, Executor, Petitioners 123 T.C. No. 2 · 2004

1955), in that, it concluded, that case had been overruled by Lasky v.

FOLLOWED John L. Seymour, Petitioner 109 T.C. No. 14 · 1997

Based on the foregoing, we hold that section 1041 does not require petitioner's indebtedness to his former wife to be characterized as personal interest for purposes of section 163(h)(1).

Cinema '84; Richard M. Greenberg, Tax Matters Partner, Petitioners 122 T.C. No. 13 · 2004

The current section 7481(a) is derived from section 1005(a) of the Revenue Act of 1926, ch.

Estate of Smith v. Commissioner 123 T.C. 15 · 2004

The court stated: Counsel for the Commissioner here stands to the petition [to vacate the decision] if it can be lawfully granted, but as in duty bound contends that the Board after four years cannot vacate its order, especially since Revenue Act of 1926, § 1005 (26 USCA § 1228), expressly declares: “The decision of the board shall become final — (1) Upon the expiration of the time allowed for filing a petition for review, if no such petition has been duly filed within such time.

Joseph D. Specking, Petitioner 117 T.C. No. 9 · 2001

1005(b), 90 Stat. 263, 278 (1976), current version at 48 U.S.C. sec. 1801 (1994); Trusteeship Agreement for the Former Japanese Mandated Islands, July 18, 1947, U.N.-U.S., Art. 1, 61 Stat. 3301; H.J. Res. 233, ch. 271, 61 Stat. 397 (1947). Additionally, islands making up Johnston Atoll are specifically excluded from the islands making - 6 - u

Eric N. Umbach, Petitioner 117 T.C. No. 9 · 2001

1005(b), 90 Stat. 263, 278 (1976), current version at 48 U.S.C. sec. 1801 (1994); Trusteeship Agreement for the Former Japanese Mandated Islands, July 18, 1947, U.N.-U.S., Art. 1, 61 Stat. 3301; H.J. Res. 233, ch. 271, 61 Stat. 397 (1947). Additionally, islands making up Johnston Atoll are specifically excluded from the islands making - 6 - u

Robert W. & Janet L. Carlson, Petitioner 112 T.C. No. 17 · 1999

c. 163(h)(2)(A). The quoted language was substituted for interest paid or accrued on indebtedness "incurred or continued in connection with the conduct of" a trade or business, by the Technical and Miscellaneous Revenue Act of 1988, Pub. L. 100-647, sec. 1005(c)(1), 102 Stat. 3342. Petitioners argue that while the previous language may have referred to a trade or - 9 - business of the taxpayer, the new language broadens the scope of section 163(h)(2)(A) to include any trade or business, which in

James E. & Cheryl L. Redlark, Petitioner 106 T.C. No. 2 · 1996

cant element in our analysis of the impact of that section on petitioners' claimed interest deduction. It is to that review that we first turn our attention. In Standing v. Commissioner, 28 T.C. 789 (1957), affd. 259 Sec. 163(h)(2)(A) was amended by sec. 1005(c)(4) of the Technical and Miscellaneous Revenue Act of 1988, Pub. L. 100-647, 102 Stat. 3342, 3390. Sec. 163(h)(2)(A), as originally enacted in 1986, provided: (A) interest paid or accrued on indebtedness incurred or continued in connectio

Robert D. Grossman, Jr., Petitioner T.C. Memo. 1996-452 · 1996

o the applicable percentage (within the meaning of subsection (d)(6)(B)) of the amount which (but for this subsection) would have been so disallowed. Although the year before us on this issue is 1987, we apply the statute as amended in 1988, because sec. 1005(c)(9) of the TAMRA 88, Pub. L. 100-647, 102 Stat. 3342, 3392, amended sec. 163(h)(6) retroactively to taxable years beginning after Dec. 31, 1986. See TAMRA 88, sec. 1019(a), 102 Stat. at 3593; TRA 86, sec. 511(e), 100 Stat. at 2249. 37 Whe

United States v. Christy 916 F.3d 814 · Cir.

Amerada Hess Corp. v. Commissioner 65 T.C. 1161 · 1976

Estate of Gould v. Commissioner 14 T.C. 414 · 1950

Edward A. Robinson, III & Diana R. Robinson, Petitioners 119 T.C. No. 4 · 2002

Rife v. Commissioner 41 T.C. 732 · 1964

Wusich v. Commissioner 35 T.C. 279 · 1960

McMurtry v. Commissioner 16 T.C. 168 · 1951

Wood v. Commissioner 16 T.C. 962 · 1951

Landau v. Commissioner 7 T.C. 12 · 1946

Moore v. Commissioner 3 T.C. 1205 · 1944

Allen v. Commissioner 3 T.C. 1224 · 1944

United States v. Robert Stinson, Jr. 734 F.3d 180 · Cir.

United States v. Walker · Cir.

United States v. Scott Capps 977 F.3d 250 · Cir.

United States v. Michael Walker 473 F.3d 71 · Cir.

24 Citing Cases