1. Home
  2. Browse Decisions
  3. T.C.M.
  4. 66 T.C.M.
  5. 66 T.C.M. 1364 (1993)
 

IDAHO FIRST NATIONAL BANK AND ITS SUBSIDIARIES v. COMMISSIONER

Docket Nos. 27381-88, 27382-88.

66 T.C.M. 1364 (1993)

T.C. Memo. 1993-539

Idaho First National Bank and Its Subsidiaries v. Commissioner. Moore Financial Group, Inc. and Its Subsidiaries v. Commissioner.

United States Tax Court.

Filed November 18, 1993.

Attorney(s) appearing for the Case

Robert J. Jones, L. Hope O'Keeffe, Steven P. Lockman, 1200 New Hampshire Ave., NW., Washington, D.C., for the petitioners. Wilton A. Baker, for the respondent.

Supplemental Memorandum Findings of Fact and Opinion

COHEN, Judge:

In our prior opinion, 95 T.C. 185 (1990), we held that the losses incurred by Moore Financial Group, Inc., in disposing of assets of an insolvent bank acquired through Federal Deposit Insurance Corporation (FDIC) bidding processes, were not "built-in deductions" within the meaning of section 1.1502-15(a)(2), Income Tax Regs. Our conclusion in this regard was...

Let's get started

Leagle.com

Welcome to the leading source of independent legal reporting
Sign on now to see your case.
Or view more than 10 million decisions and orders.

  • Updated daily.
  • Uncompromising quality.
  • Complete, Accurate, Current.

Listed below are the cases that are cited in this Featured Case. Click the citation to see the full text of the cited case. Citations are also linked in the body of the Featured Case.

Cited Cases

  • No Cases Found

Listed below are those cases in which this Featured Case is cited. Click on the case name to see the full text of the citing case.

Citing Cases