Atlee v. Commissioner
United States Tax Court
Petitioners and the Hansens each owned 50 percent of the stock of Hansen-Atlee, a corporation engaged primarily in the development and rental of commercial and residential properties. In 1969, petitioners and the Hansens devised a plan to divide the corporate business between them.
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Petitioners and the Hansens each owned 50 percent of the stock of Hansen-Atlee, a corporation engaged primarily in the development and rental of commercial and residential properties. In 1969, petitioners and the Hansens devised a plan to divide the corporate business between them. Pursuant to a plan of reorganization, dated Dec. 31, 1969, Atlee Enterprises, Inc., was formed and in return for all of its stock, Hansen-Atlee transferred to the new corporation: three pieces of undeveloped property, three notes, a leasehold interest, a car, a house trailer, and $ 500 cash. All three properties,…
1Opinion of the Court
Harry B. Atlee and Colleen Atlee, Petitioners v. Commissioner of Internal Revenue, Respondent
Atlee v. Commissioner
Docket No. 4222-73
United States Tax Court
67 T.C. 395; 1976 U.S. Tax Ct. LEXIS 12;
December 8, 1976, Filed
Decision will be entered under Rule 155.
Petitioners and the Hansens each owned 50 percent of the stock of Hansen-Atlee, a corporation engaged primarily in the development and rental of commercial and residential properties. In 1969, petitioners and the Hansens devised a plan to divide the corporate business between them. Pursuant to a plan of reorganization, dated Dec. 31, 1969,…
2Cases cited8 opinions
- Coady v. CommissionerUnited States Tax Court · 1960
- Portland Mfg. Co. v. CommissionerUnited States Tax Court · 1971
- United States v. W. W. Marett and Ruth MarettCourt of Appeals for the Fifth Circuit · 1963
- Atlee v. CommissionerUnited States Tax Court · 1976
- Burke v. CommissionerUnited States Tax Court · 1964
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