From our private database of 44,400+ case briefs, written and edited by humans—never with AI.
Revenue Ruling 77-254
Internal Revenue Service
1977-2 C.B. 63 (1977)
Facts
The taxpayer (plaintiff), described as an individual taxpayer, incurred various costs, such as for travel and advertising, while searching for a business to purchase. The taxpayer eventually decided on a business to purchase and incurred legal fees to draw up the purchase agreement. However, the purchase fell through. The taxpayer sought to deduct all the costs of travel, advertising, and legal fees. The commissioner of Internal Revenue (defendant) disagreed and disallowed the deductions of travel and advertising, but the commissioner allowed deductions of the legal fees incurred in drafting the purchase agreement for the specific business that the taxpayer tried unsuccessfully to purchase.
Rule of Law
Issue
Holding and Reasoning ()
What to do next…
Here's why 706,000 law students have relied on our case briefs:
- Written by law professors and practitioners, not other law students. 44,400 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.
