Lenard L. Politte, M.D., Inc. v. Commissioner
United States Tax Court
Petitioner was required to change to a calendar tax year by secs. 441(i) and 444, I.R.C. To effect the change, petitioner was required to file an annualized return for a short tax period under sec. 443, I.R.C. It included in income its distributive share of certain partnership items, including guaranteed payments, without annualizing the amounts of these items.
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Petitioner was required to change to a calendar tax year by secs. 441(i) and 444, I.R.C. To effect the change, petitioner was required to file an annualized return for a short tax period under sec. 443, I.R.C. It included in income its distributive share of certain partnership items, including guaranteed payments, without annualizing the amounts of these items. Petitioner claimed that these items represented partnership activity over a 12-month period and therefore were not required to be annualized. Respondent determined that annualization of these items was required by sec. 443(b)(1) and (…
1Opinion of the Court
OPINION
Tannenwald, Judge:
Respondent determined a deficiency in petitioner’s Federal income tax for the short period from September 1, 1988, to December 31, 1988, in the amount of $41,314. The sole issue for decision is the proper application of the annualization provisions of section 4431 to partnership distributions to petitioner.
All of the facts have been stipulated by the parties and are so found. The stipulated facts and accompanying exhibits are incorporated herein by reference.
Petitioner had a mailing address in Columbia, Missouri, at the time it filed its petition herein and filed a…
2Cases cited5 opinions
- Cohan v. Commissioner of Internal RevenueCourt of Appeals for the Second Circuit · 1930
- Miller v. CommissionerUnited States Tax Court · 1969
- Edward T. And Billie R. Pratt, William D. And Anita Pratt, Jack E. And Crystal A. Pratt v. Commissioner of Internal RevenueCourt of Appeals for the Fifth Circuit · 1977
- Pratt v. CommissionerUnited States Tax Court · 1975
- SPATOLS v. COMMISSIONERUnited States Board of Tax Appeals · 1941
3Cited by1 opinion
- Lenard L. Politte, M.D., Inc. v. CommissionerUnited States Tax Court · 1993