| United States. Tax Court - 1978 - 1134 pages
...(3) rentals or other payments required to be made as a condition to the continued use or |>osscssion, for purposes of the trade or business, of property...is not taking title or in which he has no equity. Petitioners recognize that the usual rule (applicable to cash as well as accrual basis taxpayers, see... | |
| United States. Tax Court - 1972 - 942 pages
...any trade or business, including — ******* (3) rentals or other payments required to be made as a condition to the continued use or possession, for...of property to which the taxpayer has not taken or la not taking title or in which he has no equity. Claimed: Cash ront paid - .. . _ $15,900.00 $15,900... | |
| United States. Tax Court - 1973 - 908 pages
...reversionary interest, and under the plain words of the statute a taxpayer can deduct rent only if paid for "property to which the taxpayer has not taken or is not taking title or in which he has no equity." 3 (Emphasis added.) The question is whether petitioner's ownership of a reversionary interest constituted... | |
| United States. Tax Court - 1981 - 1252 pages
...years under the provisions of section 162(aX3) as rentals or other payments required to be made as a condition to the continued use or possession, for...purposes of the trade or business, of property to which Railway, L & A, NBRD, Carthage, and Lindgren were not taking title or in which they had no equity.... | |
| United States. Congress. Senate. Committee on Labor and Public Welfare - 1972 - 1200 pages
...162(a), "There shall be allowed as a deduction ... (3) rentals or other payments required to be made as a condition to the continued use or possession, for...purposes of the trade or business, of property to which taxpayer hoi not laten or is not taking title or in which he has no equity." (Emphasis added.) M &... | |
| United States. Tax Court - 1973 - 912 pages
...ordinary and necessary business expenses. Section 162(a) allows a deduction for certain business expenses including "rentals or other payments required to be...is not taking title or in which he has no equity." However, "The mere transfer of legal title to property * * * is not conclusive for Federal income tax... | |
| United States. Tax Court - 1974 - 918 pages
...reversionary interest, and under the plain words of the statute a taxpayer can deduct rent only if paid for ''property to which the taxpayer has not taken or is not taking title or in which he has no equity."3 (Emphasis added.) The question is whether petitioner's owner-ship of a reversionary interest... | |
| 1967 - 682 pages
...home in the pursuit of a trade or business; and (3) Rentals or other payments required to be made as a condition to the continued use or possession, for...is not taking title or in which he has no equity. For purposes of the preceding sentence, the place of residence of a Member of Congress (including any... | |
| United States. Tax Court - 1977 - 1216 pages
...business including: (3) rentals or other payments required to be made as a condition to the continued possession, for purposes of the trade or business,...is not taking title or in which he has no equity. As in the case of salary or compensation, section 162(a)(3) does not specifically limit deductions... | |
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