US Tax Court Decision – Shea Homes, Inc.
SHEA HOMES, INC. AND SUBSIDIARIES, ET AL.,1 Petitioners v.
COMMISSIONER OF INTERNAL REVENUE, Respondent
Docket Nos. 29271-09, 1400-10,
Filed February 12, 2014.
Full text of court decision:
Shea Homes, Inc – U.S. Tax Court Decision full text in .pdf
Conclusion:
SHI, SHLP, and Vistancia are permitted to report income and loss from the
sales of homes in their planned developments using the completed contract
method of accounting as consistent with this Opinion.24
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