Kaltreider v. Commissioner’s Empirical Analysis

Citation profile

63 federal appellate · 4 district ·

Most-quoted passages

The sentences later courts lift from this opinion, ranked by how many decisions quote each — the parts of the opinion doing the work. These counts are smaller than the citation total above because most of the 136 citing decisions cite the case generally; a passage count includes only decisions quoting that exact language verbatim.

1. ““No single factor or test is disposi-tive. Factors considered are: (1) the purpose for which the property was acquired; (2) the purpose for which it was held; (3) improvements, and their extent, made to the property by taxpayer; (4) frequency, number and continuity of sales; (5) the extent and substantiality of the transactions; (6) the nature and extent of taxpayer’s business; (7) the extent of advertising to promote sales, or the lack of such advertising; and (8) listings of the property for sale directly or through brokers.” Kaltreider v. Commissioner of Internal Revenue, supra, 255 F.2d at 838 . (footnotes omitted).”

   7 later decisions quote this exact passage · from the majority
   e.g. Juleo, Inc. v. Commissioner · Peters v. Commissioner

2. ““Capital asset defined “For purposes of this subtitle, the term ‘capital asset’ means property held by the taxpayer (whether or not connected with his trade or business), but does not include— “(1) stock in trade of the taxpayer or other property of a kind which would properly be included in the inventory of the taxpayer if on hand at the close of the taxable year, or property held by the taxpayer primarily for sale to customers in the ordinary course of his trade or business.””

   7 later decisions quote this exact passage · from the majority
   e.g. Mathews v. Commissioner · J. Stewart Mathews and Viola I. Mathews v. Commissioner of Internal Revenue, J. Stewart Mathews v. Commissioner of Internal Revenue

3. ““ * * * Congress intended that profits and losses arising from the everyday operation of a business be considered as ordinary income or loss rather than capital gain or loss. The preferential treatment provided by § 117 applies to transactions in property which are not the normal source of business income. It was intended ‘to relieve the taxpayer from * * * excessive tax burdens on gains resulting from a conversion of capital investments, and to remove the deterrent effect of those burdens on such conversions.’ Burnet v. Harmel, 287 U.S. at page 106 [53 S.Ct. at page 75]. Since this section is an exception from the normal tax requirements of the Internal Revenue Code, the definition of a capital asset must be narrowly applied and its exclusions interpreted broadly. This is necessary to effectuate the basic congressional purpose. This Court has always construed narrowly the term ‘capital assets’ in § 117.””

   3 later decisions quote this exact passage · from the majority
   e.g. Heebner v. Commissioner · Bransford v. Commissioner