Law Commons^™

Federal Taxation, Robert Beard

Mercer Law Review

The past year saw few significant tax cases decided in the United States Court of Appeals for the Eleventh Circuit.' However, the court did issue two interesting opinions: one dealing with the characterization of a real estate developer's gain as ordinary income and another dealing with a statutory interpretation question relating to the first-time homebuyer tax credit. These two cases, both reversals of the United States Tax Court, are discussed below.