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§272 — Disposal of coal or domestic iron ore

137 cases·10 followed·4 distinguished·1 questioned·122 cited—7% support

Statute Text — 26 U.S.C. §272

Where the disposal of coal or iron ore is covered by section 631, no deduction shall be allowed for expenditures attributable to the making and administering of the contract under which such disposition occurs and to the preservation of the economic interest retained under such contract, except that if in any taxable year such expenditures plus the adjusted depletion basis of the coal or iron ore disposed of in such taxable year exceed the amount realized under such contract, such excess, to the extent not availed of as a reduction of gain under section 1231, shall be a loss deductible under section 165(a). This section shall not apply to any taxable year during which there is no income under the contract.

Treasury Regulations

  • Treas. Reg. §Treas. Reg. §1.272-1 Expenditures relating to disposal of coal or domestic iron ore
  • Treas. Reg. §Treas. Reg. §1.272-1(a) Introduction.
  • Treas. Reg. §Treas. Reg. §1.272-1(b) In general.
  • Treas. Reg. §Treas. Reg. §1.272-1(c) Losses.
  • Treas. Reg. §Treas. Reg. §1.272-1(d) Examples of expenditures.
  • Treas. Reg. §Treas. Reg. §1.272-1(e) Nonapplication of section.

137 Citing Cases

Hallmark Research Collective, Petitioner 159 T.C. No. 6 · 2022

680, 741. 15 See Revenue Act of 1942, ch. 619, § 168, 56 Stat. 798, 876. 16 See International Organizations Immunities Act of 1945, ch. 652, § 203, 59 Stat. 669, 673 (excluding Saturdays as the 90th day). 17 See Internal Revenue Service Restructuring and Reform Act of 1998, Pub. L. No. 105-206, § 3463, 112 Stat. 685, 767. 19 D. Sec

Daniel Campbell & Terri Campbell, Petitioners · 2018

to account the standard mileage rates previously referenced and petitioners' credible presentation regarding the number ofmiles driven for such purposes. 7Petitioner's pickup truck fits within the definition ofa "passenger automobile" for purposes ofsec. 272. See sec. 280F(d)(5). - 11 - As far as substantiation goes, the above reasoning applies to all ofthe mileage included in the vehicle expense deductions here in dispute. Adequately substantiating the mileage driven for purposes ofsection 274,

Peter L. Ax & Beverly B. Ax, Petitioners · 2016

Before the APA, "prior, adequate, and exclusive opportunity forjudicial review"6 ofa notice ofdeficiency was provided in the predecessor statutes to section 6213(a)--i.e., in section 272(a)(1) ofthe Internal Revenue Code of 1939, as in effect when the APA was enacted in 1946.

Salus Mundi Foundation, Transferee, Petitioner · 2016

272; see McCombs, 30 F.3d at 326 (observing that what constitutes fair consideration must be determined on a case-by-case basis). The parties have stipulated that the conveyances from Diebold New York to petitioners were not made in exchange for any property or in satisfaction ofan antecedent debt. Thus, the transfers were not made in exchange

Diebold Foundation, Inc., Transferee, Petitioner · 2016

272; see McCombs, 30 F.3d at 326 (observing that what constitutes fair consideration must be determined on a case-by-case basis). The parties have stipulated that the conveyances from Diebold New York to petitioners were not made in exchange for any property or in satisfaction ofan antecedent debt. Thus, the transfers were not made in exchange

Diebold Foundation, Inc., Transferee, Petitioner T.C. Memo. 2012-61 · 2012

Fair consideration must be determined "upon the facts and circumstances of each particular case." Sullivan v. Messed (In re Corcoran), 246 B.R. 152, 159 (S.D.N.Y. 2000) (citing United States v. McCombs, 30 F.3d at 326). Furthermore, under N.Y. Debt. & Cred. Law sec. 271 (McKinney 2001), a person is insolvent when the "present fair salable

Sandra K. Shockley, Transferee, Petitioner T.C. Memo. 2011-96 · 2011

142 (1940), the Board of Tax Appeals held that there was no suspension of the period of limitations upon assessment when the IRS sent a notice that was not proper under former section 272, the predecessor of section 6212, that had prompted the taxpayer to file a petition in a prior case.

Terry K. Shockley, Transferee, Petitioner T.C. Memo. 2011-96 · 2011

142 (1940), the Board of Tax Appeals held that there was no suspension of the period of limitations upon assessment when the IRS sent a notice that was not proper under former section 272, the predecessor of section 6212, that had prompted the taxpayer to file a petition in a prior case.

Estate of Gordon H. Bartels, Deceased; Sally A. Jouris, Executor; & Thomas G. Bartels, Executor; and Estate of Violet J. Bartels, Deceased; Sally A. Jouris, Executor; & Thomas G. Bartels, Executor, Petitioners 106 T.C. No. 24 · 1996

Sections 274(g) and 512(g) were incorporated into the Internal Revenue Code of 1939 by section 272(g) (relating to the income tax) and section 1012(g) (relating to the gift tax); again no comparable section was included in the estate tax provisions of the 1939 Code.

Estate of Bartels v. Commissioner 106 T.C. 430 · 1996

Sections 274(g) and 512(g) were incorporated into the Internal Revenue Code of 1939 by section 272(g) (relating to the income tax) and section 1012(g) (relating to the gift tax); again no comparable section was included in the estate tax provisions of the 1939 Code.

Minuto v. Commissioner 66 T.C. 616 · 1976
Penn Mutual Indemnity Co. v. Commissioner 32 T.C. 653 · 1959
Fleming v. Commissioner 33 T.C. 336 · 1959
Carbone v. Commissioner 8 T.C. 207 · 1947
Saigh v. Commissioner 36 T.C. 395 · 1961
Davis v. Commissioner 74 T.C. 881 · 1980
Estate of Van Winkle v. Commissioner 51 T.C. 994 · 1969
Davis v. Commissioner 29 T.C. 878 · 1958
Estate of Schneider v. Commissioner 29 T.C. 940 · 1958
F. W. Poe Manufacturing Co. v. Commissioner 25 T.C. 691 · 1956
Helfrich v. Commissioner 25 T.C. 404 · 1955
Atlas Oil & Refining Corp. v. Commissioner 22 T.C. 552 · 1954
Deakman-Wells Co. v. Commissioner 20 T.C. 610 · 1953
Akeley Camera & Instrument Corp. v. Commissioner 18 T.C. 1045 · 1952
Rosemary Manufacturing Co. v. Commissioner 9 T.C. 851 · 1947
Wise Guys Holdings, LLC, Peter J. Forster, Tax Matters Partner, Petitioners 140 T.C. No. 8 · 2013
Deborah L. Smith, Petitioner · 2013
Smith v. Commissioner 140 T.C. 48 · 2013
Wise Guys Holdings, LLC v. Commissioner 140 T.C. 193 · 2013
Llwellyn Greene-Thapedi, Petitioner 126 T.C. No. 1 · 2006
Greene-Thapedi v. Commissioner 126 T.C. 1 · 2006
Estate of Mueller v. Commissioner 101 T.C. 551 · 1993
Cross v. Commissioner 98 T.C. 613 · 1992
Calumet Industries, Inc. v. Commissioner 95 T.C. 257 · 1990
Stamos v. Commissioner 95 T.C. 624 · 1990
Woods v. Commissioner 92 T.C. 776 · 1989
Deskins v. Commissioner 87 T.C. 305 · 1986
Estate of Bender v. Commissioner 86 T.C. 770 · 1986
Century Data Systems, Inc. v. Commissioner 80 T.C. 529 · 1983
Frieling v. Commissioner 81 T.C. 42 · 1983
Mulvania v. Commissioner 81 T.C. 65 · 1983
Brown v. Commissioner 78 T.C. 215 · 1982
Estate of Johnson v. Commissioner 77 T.C. 120 · 1981
Zenco Engineering Corp. v. Commissioner 75 T.C. 318 · 1980
Looper v. Commissioner 73 T.C. 690 · 1980
Bregin v. Commissioner 74 T.C. 1097 · 1980
Midland Mortgage Co. v. Commissioner 73 T.C. 902 · 1980
Hollie v. Commissioner 73 T.C. 1198 · 1980
Goodman v. Commissioner 71 T.C. 974 · 1979
Estate of Bahr v. Commissioner 68 T.C. 74 · 1977
Cline v. Commissioner 67 T.C. 889 · 1977
Ticktin Garfinkel v. Commissioner 67 T.C. 1028 · 1977
Breman v. Commissioner 66 T.C. 61 · 1976
Cincinnati Transit, Inc. v. Commissioner 55 T.C. 879 · 1971
Sunbrock v. Commissioner 48 T.C. 55 · 1967
Houghton v. Commissioner 48 T.C. 656 · 1967
Eversole v. Commissioner 46 T.C. 56 · 1966
Dolan v. Commissioner 44 T.C. 420 · 1965
Estate of Lambert v. Commissioner 39 T.C. 954 · 1963
Teitelbaum v. Commissioner 40 T.C. 223 · 1963
Du Mais v. Commissioner 40 T.C. 269 · 1963
Connecticut Light & Power Co. v. Commissioner 40 T.C. 597 · 1963
State Farming Co. v. Commissioner 40 T.C. 774 · 1963
A. R. Ruppert Plumbing & Heating Co. v. Commissioner 39 T.C. 284 · 1962
Commercial Fishermen's Inter-Insurance Exchange v. Commissioner 38 T.C. 915 · 1962
Ginsberg v. Commissioner 35 T.C. 1148 · 1961
Arc Realty Co. v. Commissioner 34 T.C. 484 · 1960
England v. Commissioner 34 T.C. 617 · 1960
Perpetual Building & Loan Ass'n of Columbia v. Commissioner 34 T.C. 694 · 1960
Estate of Krueger v. Commissioner 33 T.C. 667 · 1960
May Broadcasting Co. v. Commissioner 33 T.C. 1007 · 1960
Timanus v. Commissioner 32 T.C. 631 · 1959
Empire Construction Co. v. Commissioner 31 T.C. 857 · 1959
Fifth Avenue Coach Lines, Inc. v. Commissioner 31 T.C. 1080 · 1959
Trianon Hotel Co. v. Commissioner 30 T.C. 156 · 1958
Bausch & Lomb Optical Co. v. Commissioner 30 T.C. 602 · 1958
Cole v. Commissioner 30 T.C. 665 · 1958
Estate of Arnett v. Commissioner 31 T.C. 320 · 1958
Chicago & North Western Railway Co. v. Commissioner 29 T.C. 989 · 1958
Ortmayer v. Commissioner 28 T.C. 64 · 1957
Schmidt v. Commissioner 28 T.C. 367 · 1957
American Properties, Inc. v. Commissioner 28 T.C. 1100 · 1957
Beus v. Commissioner 28 T.C. 1133 · 1957
Glowinski v. Commissioner 25 T.C. 934 · 1956
Weaver v. Commissioner 25 T.C. 1067 · 1956
Bullock v. Commissioner 26 T.C. 276 · 1956
Bishop v. Commissioner 26 T.C. 523 · 1956
Henningsen v. Commissioner 26 T.C. 528 · 1956
Philbin v. Commissioner 26 T.C. 1159 · 1956
Comas, Inc. v. Commissioner 23 T.C. 8 · 1954
Brzezinski v. Commissioner 23 T.C. 192 · 1954
Newsom v. Commissioner 22 T.C. 225 · 1954
Bales v. Commissioner 22 T.C. 355 · 1954
Stokes v. Commissioner 22 T.C. 415 · 1954
Polachek v. Commissioner 22 T.C. 858 · 1954
Goldstein v. Commissioner 22 T.C. 1233 · 1954
Martin Weiner Corp. v. Commissioner 21 T.C. 470 · 1954
West Flagler Amusement Co. v. Commissioner 21 T.C. 486 · 1954
F. A. Gillespie Trust v. Commissioner 21 T.C. 739 · 1954
Pittsburgh & Weirton Bus Co. v. Commissioner 21 T.C. 888 · 1954
Walsh v. Commissioner 21 T.C. 1063 · 1954
Brockman Building Corp. v. Commissioner 21 T.C. 175 · 1953
Switzer v. Commissioner 20 T.C. 759 · 1953
Bouchey v. Commissioner 19 T.C. 1078 · 1953
Kurtzon v. Commissioner 17 T.C. 1542 · 1952
Hardaway Motor Co. v. Commissioner 18 T.C. 824 · 1952
Green Spring Dairy, Inc. v. Commissioner 18 T.C. 929 · 1952
Leuthesser v. Commissioner 18 T.C. 1112 · 1952
Bond Crown & Cork Co. v. Commissioner 19 T.C. 73 · 1952
Woody v. Commissioner 19 T.C. 350 · 1952
McDaniel v. Commissioner 19 T.C. 474 · 1952
Cramp Shipbuilding Co. v. Commissioner 17 T.C. 516 · 1951
Bowman v. Commissioner 17 T.C. 681 · 1951
Mutual Lumber Co. v. Commissioner 16 T.C. 370 · 1951
Eck v. Commissioner 16 T.C. 511 · 1951
Birnie v. Commissioner 16 T.C. 861 · 1951
Ruud Manufacturing Co. v. Commissioner 15 T.C. 374 · 1950
Ellis v. Commissioner 14 T.C. 484 · 1950
Williams v. Commissioner 13 T.C. 257 · 1949
Bowen v. Commissioner 12 T.C. 446 · 1949
Davison v. Commissioner 13 T.C. 554 · 1949
Harvey Coal Corp. v. Commissioner 12 T.C. 596 · 1949
Hamilton v. Commissioner 13 T.C. 747 · 1949
Marcus v. Commissioner 12 T.C. 1071 · 1949
Parker v. Commissioner 12 T.C. 1079 · 1949
Sommerfeld Machine Co. v. Commissioner 11 T.C. 86 · 1948
National Butane Gas Co. v. Commissioner 11 T.C. 593 · 1948
Southern Sportswear Co. v. Commissioner 10 T.C. 402 · 1948
Difco Laboratories, Inc. v. Commissioner 10 T.C. 660 · 1948
California Vegetable Concentrates, Inc. v. Commissioner 10 T.C. 1158 · 1948
American Coast Line, Inc. v. Commissioner 6 T.C. 67 · 1946
Uni-Term Stevedoring Co. v. Commissioner 3 T.C. 917 · 1944
American Foundation Co. v. Commissioner 2 T.C. 502 · 1943
Block v. Commissioner 2 T.C. 761 · 1943
Rowan Cotton Mills Co. v. Commissioner 1 T.C. 865 · 1943
McCue v. Commissioner 1 T.C. 986 · 1943
Harold E. Steele v. Industrial Development Board Of Metropolitan Government Nashville 301 F.3d 401 · Cir.