Confirm favorite deletion?
Income Tax Keyed to Lind
Howard S. Bugbee v. Commissioner
Facts
Howard Bugbee, Petitioner, filed a federal income tax return for the year 1966. He lived in Hawaii and filed the return with the district director of internal revenue in Los Angeles, California. Petitioner was president and owned the majority of the stock in Poop Deck, Inc. The business was for operating a beer parlor. Petitioner met Paul Billings in the beer parlor and they got to know each other. Petitioner started giving Billings money for him to turn some of his ideas into business ventures. There were informal and more formal notes representing the exchange of money totaling $19,750. The notes provided for interest at 6% but no interest was ever paid, and Billings never repaid the principal. Billings was unemployed and used some of the money for personal living expenses. Petitioner reported a bad-debt loss on his 1966 income tax return of $19,750 as a capital loss, and was used to offset long-term capital gain.
Only StudyBuddy Pro offers the complete Case Brief Anatomy*
Access the most important case brief elements for optimal case understanding.
*Case Brief Anatomy includes: Brief Prologue, Complete Case Brief, Brief Epilogue
- The Brief Prologue provides necessary case brief introductory information and includes:
Topic:
Identifies the topic of law and where this case fits within your course outline.Parties:
Identifies the cast of characters involved in the case.Procedural Posture & History:
Shares the case history with how lower courts have ruled on the matter.Case Key Terms, Acts, Doctrines, etc.:
A case specific Legal Term Dictionary.Case Doctrines, Acts, Statutes, Amendments and Treatises:
Identifies and Defines Legal Authority used in this case.
- The Case Brief is the complete case summarized and authored in the traditional Law School I.R.A.C. format. The Pro case brief includes:
Brief Facts:
A Synopsis of the Facts of the case.Rule of Law:
Identifies the Legal Principle the Court used in deciding the case.Facts:
What are the factual circumstances that gave rise to the civil or criminal case? What is the relationship of the Parties that are involved in the case.Issue(s):
Lists the Questions of Law that are raised by the Facts of the case.Holding:
Shares the Court's answer to the legal questions raised in the issue.Concurring / Dissenting Opinions:
Includes valuable concurring or dissenting opinions and their key points.Reasoning and Analysis:
Identifies the chain of argument(s) which led the judges to rule as they did.
- The Brief Prologue closes the case brief with important forward-looking discussion and includes:
Policy:
Identifies the Policy if any that has been established by the case.Court Direction:
Shares where the Court went from here for this case.