Estate of Bickmeyer v. Commissioner
United States Tax Court
Henry C. Bickmeyer was a shareholder in two corporations. Prior to his death on Nov. 15, 1973, Nassau County, New York, had taken all of the assets of the corporations by eminent domain; the corporations had voted to dissolve and liquidate under sec. 337, I.R.C. 1954; Nassau County had paid part of the value of the condemned assets to the corporations; and the corporations had distributed part of the condemnation proceeds to the shareholders.
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Henry C. Bickmeyer was a shareholder in two corporations. Prior to his death on Nov. 15, 1973, Nassau County, New York, had taken all of the assets of the corporations by eminent domain; the corporations had voted to dissolve and liquidate under sec. 337, I.R.C. 1954; Nassau County had paid part of the value of the condemned assets to the corporations; and the corporations had distributed part of the condemnation proceeds to the shareholders. The corporations (or their trustees in dissolution) were litigating claims to additional amounts of compensation for their assets. After decedent's…
1Opinion of the Court
OPINION
Featherston, Judge:
Respondent determined deficiencies in the amounts of $58,276 and $43,300 in petitioner’s Federal income tax for the fiscal years ended October 31, 1974, and October 31, 1976, respectively. Other issues having been settled by the parties, the only issue remaining for decision is whether liquidating distributions received by petitioner, the Estate of Henry C. Bickmeyer, deceased, from Hempstead Bus Corp. and H.B. Land Corp. in the fiscal years ended October 31, 1974, and October 31, 1976, constituted income in respect of a decedent within the meaning of section…
2Cases cited15 opinions
- Helvering v. Estate of EnrightSupreme Court of the United States · 1941
- Commissioner of Internal Revenue v. LindeCourt of Appeals for the Ninth Circuit · 1954
- Rollert Residuary Trust v. CommissionerUnited States Tax Court · 1983
- Edwin W. Hudspeth and Maxine G. Hudspeth v. United StatesCourt of Appeals for the Eighth Circuit · 1972
- Edward D. Rollert Residuary Trust, Genesee Merchants Bank and Trust Company, Trustee v. Commissioner of Internal RevenueCourt of Appeals for the Sixth Circuit · 1985
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3Cited by2 opinions
- Peterson Irrevocable Trust 2 for benefit of Peterson v. CommissionerUnited States Tax Court · 1986
- Estate of Bickmeyer v. CommissionerUnited States Tax Court · 1985