Derr v. Commissioner
United States Tax Court
In early 1973, A decided to syndicate the X limited partnership which would purchase and operate a certain apartment complex. To this end, A published a prospectus offering the sale of X partnership units to Illinois residents. The prospectus promised substantial tax benefits in 1973 from an investment in X and indicated that A's wholly owned corporation, Z, had already contracted to purchase the apartment complex.
Read the full summary
In early 1973, A decided to syndicate the X limited partnership which would purchase and operate a certain apartment complex. To this end, A published a prospectus offering the sale of X partnership units to Illinois residents. The prospectus promised substantial tax benefits in 1973 from an investment in X and indicated that A's wholly owned corporation, Z, had already contracted to purchase the apartment complex. Nevertheless, Z had not contracted to purchase the apartment before the publication of the prospectus. On June 30, 1973, Z executed the purchase agreement for the apartment…
1Opinion of the Court
William O. Derr and Thomasine G. Derr, Petitioners v. Commissioner of Internal Revenue, Respondent
Derr v. Commissioner
Docket No. 8947-77
United States Tax Court
77 T.C. 708; 1981 U.S. Tax Ct. LEXIS 52;
September 29, 1981, Filed
Decision will be entered under Rule 155.
In early 1973, A decided to syndicate the X limited partnership which would purchase and operate a certain apartment complex. To this end, A published a prospectus offering the sale of X partnership units to Illinois residents. The prospectus promised substantial tax benefits in 1973 from an investment in X and indicated that A's…
2Cases cited59 opinions
- Welch v. HelveringSupreme Court of the United States · 1933
- New Colonial Ice Co. v. HelveringSupreme Court of the United States · 1934
- Gregory v. HelveringSupreme Court of the United States · 1935
- Deputy, Administratrix v. Du PontSupreme Court of the United States · 1940
- Commissioner v. Court Holding Co.Supreme Court of the United States · 1945
54 more not listed; retrieve them via the Exa API.