Quimbee logo
DMCA.com Protection Status

Arkansas Best Corporation v. Commissioner

485 U.S. 212 (1988)

Case BriefRelatedOptions
From our private database of 26,900+ case briefs...

Arkansas Best Corporation v. Commissioner

United States Supreme Court

485 U.S. 212 (1988)

Play video

Facts

Arkansas Best Corporation (Best) (plaintiff) was the majority owner of the National Bank of Commerce (National). When National struggled financially, Best bailed out National by purchasing stock to keep National afloat. Best sold its stock at a loss and claimed an ordinary-loss deduction on its federal tax returns. However, the federal tax commissioner (commissioner) (defendant) determined that Best’s stock losses were capital losses, not ordinary losses, and disallowed the deduction. Best petitioned the United States Tax Court for a redetermination. The tax court concluded that Best’s stock purchases were aimed at saving National from failure and thus served a business purpose. Accordingly, the tax court entered judgment in favor of Best. The commissioner appealed to the United States Court of Appeals for the Eighth Circuit, which reversed the tax court’s decision. The United States Supreme Court granted certiorari.

Rule of Law

Issue

Holding and Reasoning (Powell, J.)

What to do next…

  1. Unlock this case brief with a free (no-commitment) trial membership of Quimbee.

    You’ll be in good company: Quimbee is one of the most widely used and trusted sites for law students, serving more than 541,000 law students since 2011. Some law schools—such as Yale, Berkeley, and Northwestern—even subscribe directly to Quimbee for all their law students.

    Unlock this case briefRead our student testimonials
  2. Learn more about Quimbee’s unique (and proven) approach to achieving great grades at law school.

    Quimbee is a company hell-bent on one thing: helping you get an “A” in every course you take in law school, so you can graduate at the top of your class and get a high-paying law job. We’re not just a study aid for law students; we’re the study aid for law students.

    Learn about our approachRead more about Quimbee

Here's why 541,000 law students have relied on our case briefs:

  • Written by law professors and practitioners, not other law students. 26,900 briefs, keyed to 983 casebooks. Top-notch customer support.
  • The right amount of information, includes the facts, issues, rule of law, holding and reasoning, and any concurrences and dissents.
  • Access in your classes, works on your mobile and tablet. Massive library of related video lessons and high quality multiple-choice questions.
  • Easy to use, uniform format for every case brief. Written in plain English, not in legalese. Our briefs summarize and simplify; they don’t just repeat the court’s language.

Access this case brief for FREE

With a 7-day free trial membership
Here's why 541,000 law students have relied on our case briefs:
  • Reliable - written by law professors and practitioners, not other law students
  • The right length and amount of information - includes the facts, issue, rule of law, holding and reasoning, and any concurrences and dissents
  • Access in your class - works on your mobile and tablet
  • 26,900 briefs - keyed to 983 casebooks
  • Uniform format for every case brief
  • Written in plain English - not in legalese and not just repeating the court's language
  • Massive library of related video lessons - and practice questions
  • Top-notch customer support

Access this case brief for FREE

With a 7-day free trial membership