JENKINS v. COMMISSIONER
United States Tax Court
Partnership (MBP) paid P $ 75,000. P's relationship with MBP was being terminated because P had become disabled. MBP paid P the $ 75,000 for the release of her disability waiver of premiums on an insurance policy.
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Partnership (MBP) paid P $ 75,000. P's relationship with MBP was being terminated because P had become disabled. MBP paid P the $ 75,000 for the release of her disability waiver of premiums on an insurance policy. The partnership reported the item as a guaranteed payment ( sec. 707(c), I.R.C.). On her return, P claimed that the $ 75,000 was a lump-sum payment exempt from tax under sec. 104(a). P notified R that the $ 75,000 was reported inconsistently from the partnership within the meaning of sec. 6222. R issued a notice of deficiency disallowing the claimed tax-exempt treatment of the $…
1Opinion of the Court
OPINION
Gerber, Judge:
Petitioners notified respondent that they reported an item inconsistently from a partnership within the meaning of section 6222.1 Respondent issued a notice of deficiency to petitioners and disallowed the allegedly inconsistent position. Petitioners filed a petition and then a motion to dismiss, contending2 that the deficiency notice is invalid due to respondent’s attempt to make a partnership adjustment to a partner without a prerequisite partnership level proceeding under sections 6221-6233. Normally, we are without jurisdiction to review partnership items in a partner…
2Cases cited6 opinions
- Maxwell v. CommissionerUnited States Tax Court · 1986
- N.C.F. Energy Partners v. CommissionerUnited States Tax Court · 1987
- Miller v. CommissionerUnited States Tax Court · 1969
- Sente Inv. Club Partnership v. CommissionerUnited States Tax Court · 1990
- Daniel S. Kampel and Clarisse Kampel v. Commissioner of Internal RevenueCourt of Appeals for the Second Circuit · 1980
1 more not listed; retrieve them via the Exa API.
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