Hoffman v. Commissioner
United States Tax Court
1. An individual, though not a member of a partnership which carried on a securities business, furnished, through a straw man and two trustees, a substantial part of its capital and shared its gains and losses. Held, that she was a joint venturer and taxable as a partner under sections 901 and 182 of the Revenue Act of 1938. 2. The predecessor in interest (brother) of petitioner had been a joint venturer in a securities business prior to his death.
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1. An individual, though not a member of a partnership which carried on a securities business, furnished, through a straw man and two trustees, a substantial part of its capital and shared its gains and losses. Held, that she was a joint venturer and taxable as a partner under sections 901 and 182 of the Revenue Act of 1938. 2. The predecessor in interest (brother) of petitioner had been a joint venturer in a securities business prior to his death. Under an option, which she had as an assignee, she acquired his interest in the securities business upon the payment to his estate of…
1Opinion of the Court
Meulott, Judge'.
These consolidated proceedings involve the following deficiencies in tax:
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They were submitted upon a lengthy stipulation of facts, including some 70 documents attached as exhibits, and the testimony of six witnesses. All of the facts shown by the stipulation and the exhibits are hereby found, whether hereinafter set out or not. Additional findings, based upon the evidence adduced at the hearing, will be made preceding discussion of the various issues; and, in so far as they, may be applicable to any of the issues, will be considered though hot repeated.
The…
2Cases cited22 opinions
- Helvering v. HallockSupreme Court of the United States · 1940
- Lyeth v. HoeySupreme Court of the United States · 1938
- Burnet v. LeiningerSupreme Court of the United States · 1932
- Edwards v. SlocumSupreme Court of the United States · 1924
- Helvering v. SalvageSupreme Court of the United States · 1936
17 more not listed; retrieve them via the Exa API.
3Cited by35 opinions
- Durovic v. CommissionerUnited States Tax Court · 1970
- United States v. LandCourt of Appeals for the Fifth Circuit · 1962
- Bankers Trust Company, as of the Will of Harriet Delta Ellis, Deceased v. United StatesCourt of Appeals for the Second Circuit · 1960
- Gregory v. CommissionerUnited States Tax Court · 1963
- Haley v. Commissioner of Internal RevenueCourt of Appeals for the Fifth Circuit · 1953
30 more not listed; retrieve them via the Exa API.