Legal Opinion
Max A. Burde and Berthe C. Burde v. Commissioner of Internal Revenue, Bernard Weiss and Peggy S. Weiss v. Commissioner of Internal Revenue
Court of Appeals for the Second Circuit
Decided November 5, 1965No. 65, 66, Docket 29623, 29624PublishedCited by 41 opinions
1Opinion of the Court
KAUFMAN, Circuit Judge:
This appeal raises novel and interesting questions involving the interrelationship between Sections 1235 and 707 of the Internal Revenue Code of 1954. The sole issue is whether payments of $19,484.33, received severally in 1958 by Max A. Burde and Bernard Weiss (“husbands,” “taxpayers”) on account of a 1955 transfer of their respective one-third interests in a bath oil formula to a partnership in which Berthe C. Burde and Peggy S. Weiss (“wives”) each had a one-third interest, are properly taxable as ordinary income or as long term capital gains. The Tax Court, per…
2Cases cited13 opinions
- Gregory v. HelveringSupreme Court of the United States · 1935
- Commissioner v. CulbertsonSupreme Court of the United States · 1949
- Commissioner v. TowerSupreme Court of the United States · 1946
- Knetsch v. United StatesSupreme Court of the United States · 1960
- Nassau Lens Co., Inc. v. Commissioner of Internal Revenue, Commissioner of Internal Revenue v. Harry Pildes and Sarah PildesCourt of Appeals for the Second Circuit · 1962
8 more not listed; retrieve them via the Exa API.
3Cited by41 opinions
- Markosian v. CommissionerUnited States Tax Court · 1980
- Professional Services v. CommissionerUnited States Tax Court · 1982
- Furman v. CommissionerUnited States Tax Court · 1966
- Green v. Comm'rUnited States Tax Court · 1984
- Norman and Arlene Rodman, Appellants-Cross-Appellees v. Commissioner of Internal Revenue, Appellee-Cross-AppellantCourt of Appeals for the Second Circuit · 1976
36 more not listed; retrieve them via the Exa API.