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The prior court opinions, although helpful to our analysis, do
not control the outcome of the factual questions presented in the
cases under consideration.
Respondent contends that petitioners' cases are no different
from those already decided by this Court and, in one instance,
approved by a Court of Appeals. Petitioners contend that these
cases are factually distinguishable from Williams v.
Commissioner, supra, and Lang v. Commissioner, supra, and
petitioners assert that the rationale of Benedict v. United
States, supra, should be followed. Because we are faced with a
factual question, we first look to the record in these cases.
Thereafter, we can compare the facts herein to those of the other
cases.
Petitioners bear the burden of showing that they were
entitled to the deductions in question. Rule 142(a); New
Colonial Ice Co. v. Helvering, 292 U.S. 435 (1934). To be
successful, petitioners must show that a sale was completed
during December 1983. In a Federal tax proceeding, the question
of when a sale is completed is to be resolved by the facts and
circumstances in each case, and no one factor is controlling.
Baird v. Commissioner, 68 T.C. 115, 124 (1977); Clodfelter v.
Commissioner, 426 F.2d 1391 (9th Cir. 1970), affg. 48 T.C. 694
(1967). Concerning real property, a sale generally is completed
at the earlier of the transfer of legal title or the practical
assumption of the benefits and burdens of ownership. Baird v.
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