(1979)
Leonard and Bette Isenberg v. Commissioner
This is a tax dispute case involving the investors who funded the 1979 movie ‘California Dreaming’ starring Glynnis O’Connor and Seymour Cassel. The case from the tax court lists certain actual financial information pertaining to the movie — including the budget, revenue that the film earned and the tax write off that the investors recorded. Below is a brief breakdown of the expenses related to ‘California Dreaming’:
The budget for ‘California Dreaming’ was $3,153,327
As of June 26, 1984, the distribution of ‘California Dreaming’ had produced domestic film rentals amounting to $1,224,579.03 and foreign film rentals amounting to $205,721.44, for a total of $1,430,300.47
Read the full court report below for further information on ‘California Dreaming’.