Nathan D. Goldberg and S. E. Wood, Jr. v. Commissioner of Internal Revenue

How courts have described this case

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

• frequency of sales alone is not sufficient to establish a taxpayer is engaged in selling assets as a business
• sales of rental housing units to occupants due to poor returns from rental business resulted in capital gain; taxpayers' sales deemed to be disposition or liquidation of rental business
• proceeds of sales of houses made to liquidate assets of a rental business are subject to capital gains treatment, while proceeds of sales made as part of the activities of one engaged in the business of selling houses are subject to treatment as ordinary income

Source: CourtListener parenthetical corpus (CC0).