Taylor S. Hardin and Katherine B. Hardin v. Commissioner of Internal Revenue
U.S. Court of Appeals for the Fourth Circuit
Taylor S. Hardin and Katherine B. Hardin v. Commissioner of Internal Revenue, 507 F.2d 903 (4th Cir. 1974)
35 A.F.T.R.2d (RIA) 460; 1974 U.S. App. LEXIS 5517
Taylor S. Hardin and Katherine B. Hardin v. Commissioner of Internal Revenue
Opinion
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.
Reference
- Full Case Name
- Taylor S. HARDIN and Katherine B. Hardin, Appellants, v. COMMISSIONER OF INTERNAL REVENUE, Appellee
- Status
- Published