Forsythe v. Commissioner
United States Tax Court
Petitioner and one Ferguson, as partners, developed a large dairy business. Petitioner, unable to read and write, had charge of the farms and livestock, and Ferguson, of the office, finances, and accounting. Ferguson died in October 1942, and petitioner's wife bought his half interest in the dairy from his heirs, making payment with loans from petitioner and with a joint note of herself and petitioner, secured by a mortgage on all properties used in the business.
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Petitioner and one Ferguson, as partners, developed a large dairy business. Petitioner, unable to read and write, had charge of the farms and livestock, and Ferguson, of the office, finances, and accounting. Ferguson died in October 1942, and petitioner's wife bought his half interest in the dairy from his heirs, making payment with loans from petitioner and with a joint note of herself and petitioner, secured by a mortgage on all properties used in the business. Petitioner and she continued the business under a partnership agreement. The wife performed the duties formerly discharged by…
1Opinion of the Court
Sinne B. Forsythe, Petitioner, v. Commissioner of Internal Revenue, Respondent
Forsythe v. Commissioner
Docket No. 10920
United States Tax Court
10 T.C. 417; 1948 U.S. Tax Ct. LEXIS 247;
March 11, 1948, Promulgated
Decision will be entered under Rule 50.
Petitioner and one Ferguson, as partners, developed a large dairy business. Petitioner, unable to read and write, had charge of the farms and livestock, and Ferguson, of the office, finances, and accounting. Ferguson died in October 1942, and petitioner's wife bought his half interest in the dairy from his heirs, making payment with loans from…
2Cases cited1 opinion
- Forsythe v. CommissionerUnited States Tax Court · 1948