Andrew Mitchel LLC

International Tax Blog - New and Interesting International Tax Issues

Famous Tax Quotes - [Un]Comfortable Degree of Accuracy


The following is a quote from the Tax Court regarding the computation of tax basis of an inherited apartment located in Berlin, Germany:

The question, then, is whether * * * we are to deny petitioner any basis * * * because we cannot determine the basis with that comfortable degree of accuracy which is always desirable. We cannot, under proper circumstances, avoid determination of the proper basis for computing a deduction merely because the task is difficult or the result inexact. 

Reisner v. Commr, 34 T.C. 1122 (1960)

Tags: Other - Famous Tax Quotes