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Taylor S. HARDIN and Katherine B. Hardin, Appellants, v. COMMISSIONER OF INTERNAL REVENUE, Appellee

United States Court of Appeals for the Fourth Circuit1974-12-23No. No. 74-1438
507 F.2d 903

Authorities cited

No cited authorities resolved to law.co cases yet.

Opinion

majority opinion

PER CURIAM:

We agree with the Tax Court that when the taxpayers owned the race horse for only twenty-seven days prior to the end of the calendar year, they were entitled to claim depreciation for only the period of ownership and not for a full year, notwithstanding that by the rule of the sport a thoroughbred race horse is deemed to be one year older on January 1 of each year. We affirm on the memorandum opinion of the Tax Court. Taylor S. Hardin, 32 T.C.M. 892 (1973).

Affirmed.