Estate of Applebaum v. Commissioner

Although I join in the result reached by the majority, I write separately because I am persuaded that this case requires more than simply applying the plain language of I.R.C. § 706(c) (1976).1

*379As I read the statute, § 706(c) prohibits only the early closing of a partnership’s tax year as the result of a partner’s death. Granted that the partnership tax year must continue after a partner’s death, § 706(c) nonetheless leaves open the possibility of allocating gain or loss between a deceased partner and his successor-in-interest during the course of an ongoing partnership tax year. Yet in its…