HARRY G. MASSER V. COMMISSIONER
30 T.C. 741 (1958)
NATURE OF THE CASE: This was a dispute over the status of two properties used as one
economic unit. Masser (P) challenged the IRS's determination of deficiency claiming that
they did not recognize any gain on the disposition of a certain real property that was used
in their trucking business.
FACTS: P operated an interstate trucking business. P bought at the same time two pieces
of property across the street from each other. One was used for operations and the other was
used for parking. The two pieces were used as an economic unit. It is conceded, in this
case, that the parking area was involuntarily converted by P as a result of a threat of
imminence of condemnation. If P had retained the improved property, the closest area away
for parking would have been 1.5 miles making operations physically and economically
impracticable. Because of this dilemma, P sold the other lot to use the proceeds of both
lots to buy suitable property in the same general area. P claimed that both lots were
involuntarily converted. The IRS disagreed.
ISSUE:
RULE OF LAW:
HOLDING AND DECISION:
LEGAL ANALYSIS:
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