Kiser v. Commissioner
United States Tax Court
In 1893 William and John Kiser inherited, in equal shares, property which was managed as a joint business and not partitioned until 1936. John died in 1919, having withdrawn more than William and leaving his wife an income for life, with his share to go thereafter to William or his heirs.
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In 1893 William and John Kiser inherited, in equal shares, property which was managed as a joint business and not partitioned until 1936. John died in 1919, having withdrawn more than William and leaving his wife an income for life, with his share to go thereafter to William or his heirs. In a partition and accounting in 1936, the court decreed that in 1919 John's share of the joint property was 21.58 per cent and William's was 78.42 per cent and that $ 37,922.19 of subsequent income was due John's estate, and made partition accordingly. Held, respondent erred in including in William's income…
1Opinion of the Court
Estate of W. H. Kiser, Deceased, Lucy Peel Kiser, Marion C. Kiser, Lawson P. Kiser and William H. Kiser, Jr., Executors, and Lucy Peel Kiser, Surviving Wife, Petitioners, v. Commissioner of Internal Revenue, Respondent
Kiser v. Commissioner
Docket No. 12717
United States Tax Court
12 T.C. 178; 1949 U.S. Tax Ct. LEXIS 278;
February 10, 1949, Promulgated
Decision will be entered under Rule 50.
In 1893 William and John Kiser inherited, in equal shares, property which was managed as a joint business and not partitioned until 1936. John died in 1919, having withdrawn more than William and leaving his…
2Cases cited2 opinions
- Estate of Rice v. CommissionerUnited States Tax Court · 1946
- Kiser v. CommissionerUnited States Tax Court · 1949