Taylor S. Hardin and Katherine B. Hardin v. Commissioner of Internal Revenue

Fourth Circuit

Taylor S. Hardin and Katherine B. Hardin v. Commissioner of Internal Revenue

507 F.2d 903, 35 A.F.T.R.2d (RIA) 460, 1974 U.S. App. LEXIS 5517

CourtCourt of Appeals for the Fourth Circuit

DecidedDecember 23, 1974

Docket74-1438

StatusPublished

This text of 507 F.2d 903 (Taylor S. Hardin and Katherine B. Hardin v. Commissioner of Internal Revenue) is published on Counsel Stack Legal Research, covering Court of Appeals for the Fourth Circuit primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Taylor S. Hardin and Katherine B. Hardin v. Commissioner of Internal Revenue, 507 F.2d 903, 35 A.F.T.R.2d (RIA) 460, 1974 U.S. App. LEXIS 5517 (4th Cir. 1974).

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Opinion

PER CURIAM:

We agree with the Tax Court that when the taxpayers owned the race horse for only twenty-seven days prior to the end of the calendar year, they were entitled to claim depreciation for only the period of ownership and not for a full year, notwithstanding that by the rule of the sport a thoroughbred race horse is deemed to be one year older on January 1 of each year. We affirm on the memorandum opinion of the Tax Court. Taylor S. Hardin, 32 T.C.M. 892 (1973).

Affirmed.

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PER CURIAM:

We agree with the Tax Court that when the taxpayers owned the race horse for only twenty-seven days prior to the end of the calendar year, they were entitled to claim depreciation for only the period of ownership and not for a full year, notwithstanding that by the rule of the sport a thoroughbred race horse is deemed to be one year older on January 1 of each year. We affirm on the memorandum opinion of the Tax Court. Taylor S. Hardin, 32 T.C.M. 892 (1973).

Affirmed.

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Bluebook (online)

507 F.2d 903, 35 A.F.T.R.2d (RIA) 460, 1974 U.S. App. LEXIS 5517, Counsel Stack Legal Research, https://law.counselstack.com/opinion/taylor-s-hardin-and-katherine-b-hardin-v-commissioner-of-internal-ca4-1974.

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