Santucci v. Commissioner

T.C. Memo. 1973-178 (1973)

Study Aids
Case Briefs Overview
Casebooks
Case Briefs
S
From our private database of 46,300+ case briefs, written and edited by humans—never with AI.

Santucci v. Commissioner

United States Tax Court
T.C. Memo. 1973-178 (1973)

  • Written by Heather Whittemore, JD

Facts

Arnold and Vida Santucci (plaintiffs) owned a car wash on leased land in Richmond, California. In 1968 the property on which the car wash was located was condemned by the San Francisco Bay Area Rapid Transit District through eminent domain. As a result, the Santuccis were awarded approximately $53,460 for their personal property related to the car wash. The Santuccis used the condemnation award to purchase a printing company. On their 1968 income-tax return, the Santuccis reported the condemnation award as a long-term capital gain. The Commissioner of Internal Revenue (the Commissioner) (defendant) determined that the condemnation award was ordinary income. The Santuccis petitioned the United States Tax Court for a redetermination. In front of the tax court, the Santuccis argued that, under § 1033 of the Internal Revenue Code, the condemnation award should not be recognized as a gain at all because it resulted from an involuntary conversion and was used to purchase replacement property.

Rule of Law

Issue

Holding and Reasoning (Irwin, 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 806,000 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 806,000 law students have relied on our case briefs:

  • Written by law professors and practitioners, not other law students. 46,300 briefs, keyed to 988 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 806,000 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
  • 46,300 briefs - keyed to 988 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

Casebooks

Federal Income Tax

Key Terms