Estate of Burton W. Kanter, Deceased, Joshua S. Kanter, Executor, and Naomi R. Kanter, et al. - Page 10

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          ISSUE XII.  Whether Kanter Realized and Must Recognize                      
          Capital Gains as a Result of Transactions                                   
          Involving Cashmere Investments Associates, Inc.,                            
          During 1983 and Whether the Kanters May Use                                 
          the Installment Method To Report Gains ..... 374                            
                                  FINDINGS OF FACT                                    
          A.  Transfer of Real Estate Partnership Interests                           
          to Cashmere .................... 380                                        
          B.  Sale of Cashmere Stock to Waco .......... 383                           
          C.  Sale of Cashmere Stock From Waco to Zell ..... 386                      
                                       OPINION                                        
          A.  The Parties’ Arguments .............. 387                               
          B.  Analysis ..................... 389                                      
               1.  Applicability of Section 357(b)(1) ...... 391                      
               2.  Applicability of Section 357(c) ........ 392                       
               3.  Kanter’s Use of the Installment Method .... 394                    
          ISSUE XIII.  Whether Kanter Is Entitled to Research and                     
          Development and Business Expense Deductions                                 
          Related to Immunological Research Corp.                                     
                    for 1979 .................... 396                                 
                                  FINDINGS OF FACT                                    
                                       OPINION                                        
          A.  Trade or Business Requirement of Section 174 ... 404                    
          B.  The Parties’ Arguments .............. 407                               
          C.  Analysis ..................... 408                                      
          ISSUE XIV.  Whether Kanter Received Unreported Partnership                  
          Income During 1978 ............... 415                                      
                                  FINDINGS OF FACT                                    
                                       OPINION                                        
          ISSUE XV.  Whether the Kanters Are Entitled to a Loss From                  
          GLS Associates for 1981 ............. 417                                   
                                       OPINION                                        
          ISSUE XVI.  Whether the Kanters Are Entitled to Losses From                 
          Equitec for 1983 and 1984 ............ 420                                  
                                       OPINION                                        
          A.  The Parties’ Arguments .............. 420                               
          B.  Analysis ..................... 421                                      
          ISSUE XVII.  Whether the Kanters Are Entitled to an Investment              
          Interest Expense Deduction for 1981 ...... 421                              
                                       OPINION                                        
          A.  The Parties’ Arguments .............. 422                               
          B.  Analysis ..................... 422                                      






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