Archbald v. Commissioner
United States Board of Tax Appeals
1. Upon a sale by a partnership of property contributed by a partner at the time of organization at its then value, which was greater than the partner's cost or other basis, for a price greater than the value when contributed, the basis for computing the gain of the partnership is such value; and neither the individual partner's distributive share of partnership income nor his other income may include as gain the earlier increment. 2. Upon the organization of a partnership,…
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1. Upon a sale by a partnership of property contributed by a partner at the time of organization at its then value, which was greater than the partner's cost or other basis, for a price greater than the value when contributed, the basis for computing the gain of the partnership is such value; and neither the individual partner's distributive share of partnership income nor his other income may include as gain the earlier increment. 2. Upon the organization of a partnership, the contribution by an individual partner of property having a value greater than its cost or other basis to him is not…
1Opinion of the Court
OPINION.
Steenhagen :
These petitioners were all members of a partnership, and the controversy is as to the taxable gajn to be imputed to each of *838them as the result of a sale by the partnership of property contributed by them to the firm’s capital at the time it was organized. The facts in detail are set forth in a written stipulation, but it is not necessary either to restate the stipulation or to set forth all the facts in order to indicate clearly the nature of the issue or the basis of the decision.
The Archbald Securities Company was organized as a partnership under New York law on July…
2Cases cited10 opinions
- New York Trust Co. v. EisnerSupreme Court of the United States · 1921
- Burk-Waggoner Oil Assn. v. HopkinsSupreme Court of the United States · 1925
- Blodgett v. SilbermanSupreme Court of the United States · 1928
- Taft v. BowersSupreme Court of the United States · 1929
- Costello v. . CostelloNew York Court of Appeals · 1913
5 more not listed; retrieve them via the Exa API.
3Cited by12 opinions
- Chisholm v. CommissionerUnited States Board of Tax Appeals · 1934
- Campbell v. CommissionerUnited States Tax Court · 1990
- Klingenstein v. United StatesUnited States Court of Claims · 1937
- Flannery v. United StatesDistrict Court, D. Maryland · 1938
- Enright's Estate v. Commissioner of Internal RevenueCourt of Appeals for the Third Circuit · 1940
7 more not listed; retrieve them via the Exa API.