REED v. COMMISSIONER
This text of 6 B.T.A. 1140 (REED v. COMMISSIONER) is published on Counsel Stack Legal Research, covering United States Board of Tax Appeals primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
Opinion
OPINION.
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.
Judgment %uill be entered on 15 days’ notice, under Rule 50.
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Cite This Page — Counsel Stack
6 B.T.A. 1140, 1927 BTA LEXIS 3336, Counsel Stack Legal Research, https://law.counselstack.com/opinion/reed-v-commissioner-bta-1927.