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KIRSCHENMANN v. C. I. R.

No. 72-1730.

488 F.2d 270 (1973)

Walter KIRSCHENMANN et al., Petitioners-Appellants, v. COMMISSIONER OF INTERNAL REVENUE, Respondent-Appellee.

United States Court of Appeals, Ninth Circuit.

November 12, 1973.

Attorney(s) appearing for the Case

Curtis Darling (argued), Darling & Maclin, Bakersfield, Cal., for petitioners-appellants.

Scott P. Crampton, Asst. Atty. Gen., Meyer Rothwacks, Michael L. Paup, Attys. (argued), Tax Div., U. S. Dept. of Justice, Washington, D.C., Lee H. Henkel, Jr., Acting Chief Counsel, Internal Revenue Service, Washington, D.C., for respondent-appellee.

Before HUFSTEDLER and WRIGHT, Circuit Judges, and EAST, District Judge.

OPINION

EUGENE A. WRIGHT, Circuit Judge:

In this case we must interpret Treasury Regulation § 1.453-4(c) (1958) to determine whether taxpayers may report their gain from the sale of a farm using the installment sale method of Int.Rev. Code § 453. The decision turns on whether the taxpayers' selling expenses are an adjustment to their basis in the property. The Tax Court, 57 T.C. 524, held that they were not and that...

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