Ocmulgee Fields, Inc. v. Commissioner’s Empirical Analysis

Citation profile

6 federal appellate ·

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 26 citing decisions cite the case generally; a passage count includes only decisions quoting that exact language verbatim.

1. “Because a like-kind exchange results in the substitution of the basis of the exchanged property for the property received, related parties have engaged in like- kind exchanges of high basis property for low basis property in anticipation of the sale of the low basis property in order to reduce or avoid the recognition of gain on the subsequent sale * * * The committee believes that if a related party exchange is followed shortly thereafter by a disposition of the property, the related parties have, in effect, 'cashed out' of the investment, and the original exchange should not be accorded nonrecognition treatment.”

   1 later decision quote this exact passage · from the majority
   e.g. Malulani Group v. Comm'r

2. “). Section 1031(f)(1) generally provides that if a taxpayer and a related person 4 exchange like-kind property and within two years either one disposes of the property received in the exchange, the nonrecognition provisions of section 1031(a) do not apply, and gain or loss must be recognized as of the date of the disposition. Although section 1031(f)(1) disallows nonrecognition treatment only for direct exchanges between related persons, section 1031(f)(4) provides that nonrecognition treatment does not apply to any exchange which is part of a transaction or series of transactions”

   1 later decision quote this exact passage · from the majority
   e.g. Malulani Group v. Comm'r

3. “Congress afforded nonrecognition treatment to § 1031(a) like-kind exchanges because it recognized that when a taxpayer merely exchanges one investment property for a similar investment property, the taxpayer has not cashed in on his investment but continued that investment, albeit in a different property.” Ocmulgee Fields, 613 F.3d at 1364 ; see also Starker v. United States, 602 F.2d 1341, 1342 (9th Cir.1979). 19 . Section 197 entitles taxpayers to claim”

   1 later decision quote this exact passage · from the majority
   e.g. Deseret Management Corporation v. United States