Evans v. Commissioner
United States Tax Court
Petitioner assigned to his wholly owned corporation his one-half interest in a partnership (and not merely the right to future income) in which capital was a material income-producing factor.
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Petitioner assigned to his wholly owned corporation his one-half interest in a partnership (and not merely the right to future income) in which capital was a material income-producing factor. Held, that despite the fact that petitioner did not advise his partner of the assignment, and despite the fact that for State purposes the petitioner remained a partner after the assignment, the petitioner was no longer a partner for Federal income tax purposes (secs. 708 and 704(e), I.R.C. 1954), and that therefore he was no longer subject to tax upon the income attributable to the interest assigned or…
1Opinion of the Court
Donald L. and Joan Evans, Petitioners v. Commissioner of Internal Revenue, Respondent
Evans v. Commissioner
Docket Nos. 6346-66, 2418-67
United States Tax Court
54 T.C. 40; 1970 U.S. Tax Ct. LEXIS 231;
January 19, 1970, Filed
Decisions will be entered under Rule 50.
Petitioner assigned to his wholly owned corporation his one-half interest in a partnership (and not merely the right to future income) in which capital was a material income-producing factor. Held, that despite the fact that petitioner did not advise his partner of the assignment, and despite the fact that for State purposes the…
2Cases cited11 opinions
- Burnet v. LeiningerSupreme Court of the United States · 1932
- Sperapani v. CommissionerUnited States Tax Court · 1964
- Lehman v. CommissionerUnited States Tax Court · 1946
- Commissioner of Internal Revenue v. SmithCourt of Appeals for the Fifth Circuit · 1949
- Commissioner of Internal Revenue v. LehmanCourt of Appeals for the Second Circuit · 1948
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