DICKINSON ET AL.

v.

PAYNE

Citator

Cited By (15 total)

• Miller v. Commissioner OF Internal Revenue, 836 F.2d 1274 (10th Cir. 1988)
  …Comm’r, 298 F. 2d 583, 584 (2d Cir.1962) (“This court has repeatedly held that, in determining the de-ductibility of a loss, the primary motive must be ascertained and given effect.”); Weir v. Comm’r, 109 F. 2d 996, 997-98 (3rd Cir.), cert. denied, 310 U.S. 637, 60 S.Ct. 1080, 84 L.Ed. 1406 (1940). When a taxpayer enters into a transaction for profit, there must be an ultimate objective of producing taxable income. The government allows the loss, because had the transaction been profitable as intended by…
• United States v. Est. OF Grace, 395 U.S. 316 (U.S. 1969)
  …pts to draft instruments which seemingly avoid the literal terms of §811 (c)(1)(B), while still leaving the decedent the lifetime enjoyment of his property.2 The doctrine dates from Lehman v. Commissioner, 109 F. 2d 99 (C. A. 2d Cir.), cert. denied, 310 U. S. 637 (1940). In Lehman, decedent and his brother owned equal shares in certain stocks and bonds. Each brother placed his interest in trust for the other’s benefit for life, with remainder to the life tenant’s issue. Each brother also gave the other the r…
• Knetsch v. The United States, 348 F.2d 932 (Ct. Cl. 1965)
  …ctions entered into for profit.” This limitation first appeared in the Revenue Act of 1916 and it has been construed ever since in terms of taxpayer’s state of mind. Weir v. Commissioner of Internal Revenue, 109 F. 2d 996, 997 (3d Cir.) cert. denied 310 U.S. 637, 60 S.Ct. 1080, 84 L.Ed. 1406 (1940). The Supreme Court has said that the determinative question is whether the taxpayer’s purpose in entering into the transaction was primarily for profit. Helvering v. National Grocery Co., 304 U.S. 282, 289, 58 S.…