SPATOLS v. COMMISSIONER
United States Board of Tax Appeals
The petitioner is a member of a partnership which filed its income tax returns on a calendar year basis. The petitioner made his income tax returns upon the basis of a fiscal year ending September 30. In 1936 he obtained permission to change his taxable year to the calendar year and filed a return of net income for the period October 1 to December 31, 1936. Held, that there must be included in such return his share of the profits of the partnership for the calendar year 1936.
1Opinion of the Court
*1112OPINION.
Smith :
The question presented by this proceeding is whether there shall be included in the net income of the petitioner for the period October 1 to December 31, 1936, his proportionate share of the profits of the partnership of Felix Spatola & Sons for the entire calendar year 1936. The petitioner admits that no part of such profits was included in his return filed for the fiscal year ended September 30, 1936. He argues, however, that the profits of the partnership were nearly all earned during the first nine months of the calendar year and that the profits for the last three months…
2Cited by4 opinions
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- Lenard L. Politte, M.D., Inc. v. CommissionerUnited States Tax Court · 1993
- Lenard L. Politte, M.D., Inc. v. CommissionerUnited States Tax Court · 1993
- SPATOLS v. COMMISSIONERUnited States Board of Tax Appeals · 1941