Baker v. Commissioner
United States Tax Court
Petitioner was the sole beneficiary of a complex trust. The trust made a $ 50,000 distribution out of trust income to petitioner. In addition, for tax accounting purposes the trust acted as though it was a partnership and "allocated" a portion of its distributable share of partnership losses to petitioner. Petitioner claimed a deduction for the partnership losses "allocated" to him, although those same losses had been previously deducted from the trust's gross income.
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Petitioner was the sole beneficiary of a complex trust. The trust made a $ 50,000 distribution out of trust income to petitioner. In addition, for tax accounting purposes the trust acted as though it was a partnership and "allocated" a portion of its distributable share of partnership losses to petitioner. Petitioner claimed a deduction for the partnership losses "allocated" to him, although those same losses had been previously deducted from the trust's gross income. Pursuant to Maring v. Commissioner, T.C. Memo. 1988-469, respondent disallowed a portion of the "allocated" partnership losses…
1Opinion of the Court
CHARLES STEWART BAKER, Petitioner v. COMMISSIONER OF INTERNAL REVENUE, Respondent
Baker v. Commissioner
Docket No. 39199-87
United States Tax Court
T.C. Memo 1990-107; 1990 Tax Ct. Memo LEXIS 109; 59 T.C.M. (CCH) 10; T.C.M. (RIA) 90107;
March 1, 1990.
Petitioner was the sole beneficiary of a complex trust. The trust made a $ 50,000 distribution out of trust income to petitioner. In addition, for tax accounting purposes the trust acted as though it was a partnership and "allocated" a portion of its distributable share of partnership losses to petitioner. Petitioner claimed a deduction for the…
2Cases cited12 opinions
- New Colonial Ice Co. v. HelveringSupreme Court of the United States · 1934
- Wichita Term. El. Co. v. Commissioner of Int. R.Court of Appeals for the Tenth Circuit · 1947
- Morrison v. CommissionerUnited States Tax Court · 1983
- Moore v. CommissionerUnited States Tax Court · 1978
- Asa E. Calvin and Lois Calvin v. United StatesCourt of Appeals for the Tenth Circuit · 1965
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