Reed v. Commissioner

Decided April 29, 1927

United States Board of Tax Appeals · decided 1927-04-29

Key passage — most relied on by later courts

““The March 1, 1913, value of the dam in question was $12,000, and it should be depreciated on the basis of the useful life, as determined, down to March 1, 1920, to determine the residual value of the dam on that date. One-fourth of the residual value of the dam on March 1, 1920, should be allowed as a loss and depreciation computed for the calendar year 1920 on the useful life as determined for the three-fourths of the old dam remaining and depreciation allowed based upon the useful life for the new part of the dam, construction of which was completed on July 1, 1920, and from which, date depreciation should be allowed.””

quoted by 1 later decision, including Portland General Electric Company v. United States

Good law ✅— No negative treatment on recordhow we know

Decided 1927-04-29

How this case has been cited

Cited by 4 later decisions — most recently March 1974

1 district ·

Later decisions citing this case, by decade. The current decade is in progress, and our corpus holds fewer opinions from the most recent years, so the latest bars are undercounted — not a real decline.

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¶1OPINION.

MillikeN :

¶2The March 1, 1913, value of the dam in question was $12,000, and it should be depreciated on the basis of the useful life, as determined, down to March 1, 1920, to determine the residual value of the dam on that date. One-fourth of the residual value of the dam on March 1, 1920, should be allowed as a loss and depreciation computed for the calendar year 1920 on the useful life as determined for the three-fourths of the old dam remaining and depreciation allowed based upon the useful life for the new part of the dam, construction of which was completed on July 1, 1920, and from which date depreciation should be allowed.

¶3Judgment %uill be entered on 15 days’ notice, under Rule 50.