Linsenmeyer v. Commissioner
United States Tax Court
Petitioner's late husband, John Russo, died in 1941 possessing a one-seventh interest in one partnership and allegedly possessing a one-half interest in another. The businesses were continued without interruption after his death, and petitioner became a one-seventh partner in one enterprise and a one-half partner in the other. She received her distributive shares of partnership income and reported them on her individual returns.
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Petitioner's late husband, John Russo, died in 1941 possessing a one-seventh interest in one partnership and allegedly possessing a one-half interest in another. The businesses were continued without interruption after his death, and petitioner became a one-seventh partner in one enterprise and a one-half partner in the other. She received her distributive shares of partnership income and reported them on her individual returns. Although the five children of petitioner and John Russo were entitled to intestate shares of any partnership assets in which he had an interest at the time of his…
1Opinion of the Court
OPINION.
Rice, Judge:
The parties concede that the North Pole Distributing Company and the North Pole Ice Company were partnerships during the years 1947, 1948, and 1949, and that petitioner was a partner in these two enterpi’ises during such years. We must decide the extent of her partnership interests therein. We must decide whether, for tax purposes, petitioner is to be regarded as possessing a one-half interest in the North Pole Distributing Company and a one-seventh interest in the North Pole Ice Company during the years 1947, 1948, and 1949, or, whether her children acquired two-thirds of…
2Cases cited10 opinions
- Commissioner v. CulbertsonSupreme Court of the United States · 1949
- Commissioner v. TowerSupreme Court of the United States · 1946
- Lyeth v. HoeySupreme Court of the United States · 1938
- Lusthaus v. CommissionerSupreme Court of the United States · 1946
- Hoyt v. SpragueSupreme Court of the United States · 1881
5 more not listed; retrieve them via the Exa API.
3Cited by1 opinion
- Linsenmeyer v. CommissionerUnited States Tax Court · 1956