Estate of Meyer v. Commissioner
United States Tax Court
No gain was recognized upon the exchange of a general partnership interest in one California partnership for a general partnership interest in a California limited partnership where before and after the exchange both partnerships were going concerns principally engaged in renting apartments.
Read the full summary
No gain was recognized upon the exchange of a general partnership interest in one California partnership for a general partnership interest in a California limited partnership where before and after the exchange both partnerships were going concerns principally engaged in renting apartments. Sec. 1031, I.R.C. 1954. However, an exchange of a general partnership interest for a limited partnership interest is not an exchange of property of a like kind for purposes of sec. 1031(a), I.R.C. 1954.
1Opinion of the Court
OPINION
Tietjens, Judge:
In these consolidated cases the Commissioner
determined income tax deficiencies as follow:
[[Image here]]
The facts were stipulated and are so found, but we refer below only to those facts pertinent to the remaining contested issue, namely, whether certain transfers of partial partnership interests for interests in another partnership are exchanges on which no gain shall be recognized under section 1031(a). 1
Rollin E. Meyer, Sr. (hereafter Meyer, Sr.), who died in 1966, and his wife, Henrietta G. Meyer, filed joint income tax returns for the years involved. Rollin E.…
2Cases cited4 opinions
- Blodgett v. SilbermanSupreme Court of the United States · 1928
- Commissioner v. ConnellySupreme Court of the United States · 1949
- McClennen v. Commissioner of Internal RevenueCourt of Appeals for the First Circuit · 1942
- Black v. CommissionerUnited States Tax Court · 1960
3Cited by14 opinions
- Gulfstream Land & Development Corp. v. CommissionerUnited States Tax Court · 1979
- Estate of Rollin E. Meyer, Sr., Deceased v. Commissioner of Internal RevenueCourt of Appeals for the Ninth Circuit · 1974
- Long v. CommissionerUnited States Tax Court · 1981
- California Federal Life Insurance Company v. Commissioner of Internal RevenueCourt of Appeals for the Ninth Circuit · 1982
- Pappas v. CommissionerUnited States Tax Court · 1982
9 more not listed; retrieve them via the Exa API.