Champlin v. Commissioner
United States Board of Tax Appeals
1. A business conducted by a husband alone, to which his wife contributed funds which she was willing to loss if the business were not successful, held, upon the evidence, not to be the business of a partnership with distributable income, but the business of the husband alone, the income being entirely taxable to him. 2. The transfer in 1920 by a taxpayer of the assets of his business, including an oil lease which was the subject of an action by the taxpayer to quiet his…
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1. A business conducted by a husband alone, to which his wife contributed funds which she was willing to loss if the business were not successful, held, upon the evidence, not to be the business of a partnership with distributable income, but the business of the husband alone, the income being entirely taxable to him. 2. The transfer in 1920 by a taxpayer of the assets of his business, including an oil lease which was the subject of an action by the taxpayer to quiet his title, in exchange for shares of a newly organized corporation, held, upon the evidence, to result in taxable gain, and the…
1Opinion of the Court
*268OPINION.
Sternhagen:
1. The first issue has been settled by the parties. The Commissioner had allowed the petitioner a deduction of $10,000 for salary, which petitioner claimed was inadequate and should be increased to $25,000. This the Commissioner now concedes, and thus removes the issue from consideration.
2. The petitioner contends that during all of the period in question the income from the oil and refining business inured to a partnership which existed by agreement between him and his wife. The respondent denies the partnership. In our opinion, the evidence fails to establish that such a…
2Cases cited6 opinions
- Burnet v. LeiningerSupreme Court of the United States · 1932
- Burk-Waggoner Oil Assn. v. HopkinsSupreme Court of the United States · 1925
- Blumenthal v. CommissionerUnited States Board of Tax Appeals · 1930
- Robertson v. CommissionerUnited States Board of Tax Appeals · 1930
- Buchanan v. CommissionerUnited States Board of Tax Appeals · 1930
1 more not listed; retrieve them via the Exa API.
3Cited by5 opinions
- Holmby Corp. v. CommissionerUnited States Board of Tax Appeals · 1933
- Henritze v. CommissionerUnited States Board of Tax Appeals · 1933
- Champlin v. CommissionerUnited States Board of Tax Appeals · 1934
- Champlin v. CommissionerUnited States Board of Tax Appeals · 1933
- Holmby Corp. v. CommissionerUnited States Board of Tax Appeals · 1933