Hull v. Commissioner
United States Tax Court
1. Decedent, who died February 2, 1957, was the senior partner in a law partnership. Under the terms of the partnership agreement the estate of a deceased partner was entitled to receive a share of the net income of the partnership for several years after his death.
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1. Decedent, who died February 2, 1957, was the senior partner in a law partnership. Under the terms of the partnership agreement the estate of a deceased partner was entitled to receive a share of the net income of the partnership for several years after his death. Held, the value of this right was includible in decedent's gross estate for estate tax purposes. 2. An amendment to the partnership agreement reducing the share of a deceased partner's estate in future net income was executed on the date of decedent's death by all partners except decedent. Several months after decedent's death the…
1Opinion of the Court
Estate of Arthur H. Hull, Deceased, Central Trust Capital Bank, Katherine W. Hull, and Margaret Hull Daniels, Executors, Petitioner, v. Commissioner of Internal Revenue, Respondent
Hull v. Commissioner
Docket No. 87887
United States Tax Court
38 T.C. 512; 1962 U.S. Tax Ct. LEXIS 110;
July 27, 1962, Filed
Decision will be entered under Rule 50.
1. Decedent, who died February 2, 1957, was the senior partner in a law partnership. Under the terms of the partnership agreement the estate of a deceased partner was entitled to receive a share of the net income of the partnership for several years after his…
2Cases cited40 opinions
- Bull v. United StatesSupreme Court of the United States · 1935
- Ithaca Trust Co. v. United StatesSupreme Court of the United States · 1929
- United States v. BessSupreme Court of the United States · 1958
- United States v. WellsSupreme Court of the United States · 1931
- Lyeth v. HoeySupreme Court of the United States · 1938
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