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Full-Text Articles in Law
Taxation - Federal Income Tax - Renting Out A Single Home As A Trade Or Business For Purposes Of Capital Loss Carry-Over, Alice Austin S.Ed.
Taxation - Federal Income Tax - Renting Out A Single Home As A Trade Or Business For Purposes Of Capital Loss Carry-Over, Alice Austin S.Ed.
Michigan Law Review
Taxpayer, who was not in the real estate business and who was involved in only occasional real estate transactions, inherited a house which he rented out until he sold it at a loss. He treated the transaction as a capital loss, taking advantage of the capital loss carry-over provisions of the Internal Revenue Code. Deficiency assessments were levied against the taxpayer upon the theory that the loss sustained upon the sale of the house was an ordinary loss which could not be carried over to later years. Taxpayer paid the deficiency assessment and sued for a refund. The district court …
Negligence - Duty Of Landlord Toward His Own Social Guest Injured On A Common Stairway, Lawrence Sperling
Negligence - Duty Of Landlord Toward His Own Social Guest Injured On A Common Stairway, Lawrence Sperling
Michigan Law Review
Defendant was co-owner of an apartment house and occupied one of the apartments. Plaintiff, his invited social guest, was injured while descending the common stairway because of defendant's negligence in failing to provide adequate lighting. A directed verdict for the defendant was affirmed by the appellate division on the ground that plaintiff as a social guest of the landowner was only a licensee. On appeal to the supreme court, held, reversed, three judges dissenting. A social guest of the landlord is an invitee while on the common stairway and therefore may recover for injuries sustained due to negligent maintenance …