Yeckes v. Commissioner
United States Tax Court
Complete liquidations: 12-month period: Distribution of assets: Assets retained. - Gain on the sale of an apartment building in complete liquidation of a corporation was taxable to the corporation where it continued to receive payments on a purchase money mortgage received as part of the consideration for the sale and where it continued to maintain a bank account from which payments were made therefrom well beyond the statutory 12-month period.
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Complete liquidations: 12-month period: Distribution of assets: Assets retained. - Gain on the sale of an apartment building in complete liquidation of a corporation was taxable to the corporation where it continued to receive payments on a purchase money mortgage received as part of the consideration for the sale and where it continued to maintain a bank account from which payments were made therefrom well beyond the statutory 12-month period. Taxable year of inclusion for the corporation's transferees determined. Additions to tax: Negligence penalty: Failure to file returns: Proof. - Since…
1Opinion of the Court
Henry Yeckes and Edythe Yeckes, et al. 1 v. Commissioner.
Yeckes v. Commissioner
Docket Nos. 2781-64, 4066-65-4068-65.
United States Tax Court
T.C. Memo 1966-178; 1966 Tax Ct. Memo LEXIS 106; 25 T.C.M. (CCH) 924; T.C.M. (RIA) 66178;
July 29, 1966
Complete liquidations: 12-month period: Distribution of assets: Assets retained. - Gain on the sale of an apartment building in complete liquidation of a corporation was taxable to the corporation where it continued to receive payments on a purchase money mortgage received as part of the consideration for the sale and where it continued to maintain a bank…
2Cases cited17 opinions
- Deputy, Administratrix v. Du PontSupreme Court of the United States · 1940
- Commissioner v. Court Holding Co.Supreme Court of the United States · 1945
- Commissioner v. JacobsonSupreme Court of the United States · 1949
- White v. United StatesSupreme Court of the United States · 1938
- Mountain Water Co. v. CommissionerUnited States Tax Court · 1960
12 more not listed; retrieve them via the Exa API.
3Cited by1 opinion
- Gilmore v. United StatesDistrict Court, D. Maryland · 1977