ESTATE OF YAEGER v. C.I.R.

Nos. 60, 180, Dockets 89-4045, 89-4059.

889 F.2d 29 (1989)

ESTATE OF Louis YAEGER, Deceased, Judith Winters, Ralph Meisels, Abraham K. Weber, and The Bank of New York, Executors, Petitioners-Appellants, Cross-Appellees, v. COMMISSIONER OF INTERNAL REVENUE, Respondent-Appellee, Cross-Appellant.

United States Court of Appeals, Second Circuit.

Decided November 7, 1989.


Attorney(s) appearing for the Case

Roberts & Holland, New York City (Richard A. Levine, of counsel), for petitioners-appellants, cross-appellees.

Shirley D. Peterson, Asst. Atty. Gen., Gary R. Allen, Richard Farber, Mary Frances Clark, Tax Div., U.S. Dept. of Justice, Washington, D.C., for respondent-appellee, cross-appellant.

Before FEINBERG and NEWMAN, Circuit Judges, and MISHLER, Senior District Judge.


MISHLER, Senior District Judge:

Petitioner appeals from a decision and order of the tax court, unofficially reported at 55 T.C.M. (CCH) 1101 (1988) (Wright, J.), that found that Louis Yaeger, deceased, was not in the trade or business of trading in securities and, therefore, that the interest he incurred in buying securities on margin was "investment interest" within the meaning of 26 U.S.C. section 163(d) and ordered that there is...

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