1. Home
  2. Browse Decisions
  3. F.2d
  4. 778 F.2d
  5. 778 F.2d 769 (1985)
 

SELFE v. UNITED STATES

No. 85-7026.

778 F.2d 769 (1985)

Edward M. SELFE and Jane B. Selfe, Plaintiffs-Appellants, v. UNITED STATES of America, Defendant-Appellee.

United States Court of Appeals, Eleventh Circuit.

December 23, 1985.

Attorney(s) appearing for the Case

Edward M. Selfe, Birmingham, Ala., for plaintiffs-appellants.

Frank W. Donaldson, U.S. Atty., Caryl P. Privett, Birmingham, Ala., Michael L. Paup, Atty., Tax Division, Dept. of Justice, Washington, D.C., Glenn L. Archer, Jr., Richard Farber, Teresa E. McLaughlin, Washington, D.C., for defendant-appellee.

Before TJOFLAT and KRAVITCH, Circuit Judges, and DUMBAULD, District Judge.

KRAVITCH, Circuit Judge:

This appeal requires us to determine whether a shareholder in a Subchapter S corporation, who personally guarantees and secures a corporate debt, may increase the adjusted basis of her stock by the full amount of the debt in order to maximize her loss deductions under I.R.C. section 1374.1

The district court granted summary judgment in favor of the government and dismissed taxpayers' suit for refund of...

Let's get started

Leagle.com

Welcome to the leading source of independent legal reporting
Sign on now to see your case.
Or view more than 10 million decisions and orders.

  • Updated daily.
  • Uncompromising quality.
  • Complete, Accurate, Current.

Listed below are the cases that are cited in this Featured Case. Click the citation to see the full text of the cited case. Citations are also linked in the body of the Featured Case.

Cited Cases

  • No Cases Found

Listed below are those cases in which this Featured Case is cited. Click on the case name to see the full text of the citing case.

Citing Cases