Rosefsky v. Commissioner
United States Tax Court
A partnership had income in 1970 from the proceeds of a condemnation award. The statute of limitations was still open with regard to any deficiency related to such income because it had been extended by a sec. 1033 election made by the partnership.
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A partnership had income in 1970 from the proceeds of a condemnation award. The statute of limitations was still open with regard to any deficiency related to such income because it had been extended by a sec. 1033 election made by the partnership. The partners claimed that they were protected by the statute of limitations for their taxable year 1970 because they as individuals had not made a sec. 1033 election and had not, therefore, extended the statute with respect to themselves as individuals. Held: The deficiency was proposed against petitioners with respect to the partnership sec. 1033…
1Opinion of the Court
Sterrett, Judge:
These cases were consolidated for purposes of trial, briefs, and opinion on joint motion of the parties. Involved are deficiencies in petitioners’ Federal income tax for their calendar year 1970 as follows:
Docket No. 1022-76 Alec and Edith Rosefsky $6,739.39
Docket No. 1023-76 Joseph A. and Helen T. D’Esti 5,230.21
The only issue before the Court is whether the statute of limitations bars respondent’s assessment and collection of the deficiencies in income tax due from petitioners for the year 1970.
FINDINGS OF FACT
This case was submitted under Rule 122, Tax Court Rules of…
2Cases cited3 opinions
- Demirjian v. CommissionerCourt of Appeals for the Third Circuit · 1972
- William Q. Boyce, Individually and as of the Will and Estate of Ida Mae Boyce, Deceased v. The United StatesUnited States Court of Claims · 1968
- American Natural Gas Co. v. United StatesUnited States Court of Claims · 1960
3Cited by3 opinions
- Estate of Gardner v. CommissionerUnited States Tax Court · 1984
- Estate of Gardner v. CommissionerUnited States Tax Court · 1984
- Rosefsky v. CommissionerUnited States Tax Court · 1978