Johnny Welch v. Department of Corrections

How courts have described this case

Verbatim parenthetical descriptions written by other courts when citing this decision. Ranked by citation-network relevance.

• treating portion of the verdict relating to compensation for building as a capital gain and the remainder as interest, which is taxed as ordinary income
• where it was held that the taxpayer’s choice to destroy his building was not an involuntary conversion
• where it was held that the taxpayer’s choice to destroy his building was not an involuntary conversion
• “[A]ny portion of a judgment which compensates a taxpayer for the lost use of his money substitutes for interest and is taxed as ordinary income.”
• excludability of damages awarded in breach of contract action

Source: CourtListener parenthetical corpus (CC0).