Estate of Hesse v. Commissioner
United States Tax Court
Mr. Hesse was a general partner in a limited partnership. He died on July 16, 1970. During 1970, the partnership sustained substantial losses. Held: Mrs. Hesse is not entitled to report her husband's share of partnership losses on the final joint return she filed with him for 1970. Rather, the decedent's distributive share of partnership losses must be reported on the fiduciary income tax return of his estate.
1Opinion of the Court
Wilbur, Judge:
Respondent determined deficiencies in income tax of petitioners of $172,986.14 for the taxable year 1967 and of $70,619.47 for the taxable year 1968. Due to concessions by petitioners, the sole issue for our determination is whether the distributive share of 1970 net partnership losses for Stanley Hesse, deceased, is properly reportable by the estate on its fiduciary income tax return or whether it can be reported on the final joint income tax return of Stanley Hesse and Elizabeth Hesse, thereby allowing petitioners to utilize a net operating loss carryback for their taxable…
2Cases cited5 opinions
- Guaranty Trust Co. v. CommissionerSupreme Court of the United States · 1938
- Reporter Pub. Co., Inc. v. Commissioner of Internal RevenueCourt of Appeals for the Tenth Circuit · 1953
- Ewing Thomas Converting Co. v. McCaughnCourt of Appeals for the Third Circuit · 1930
- Beatty v. CommissionerUnited States Tax Court · 1966
- Kean v. ManningDistrict Court, D. New Jersey · 1955
3Cited by7 opinions
- Rockwell International Corp. v. CommissionerUnited States Tax Court · 1981
- Estate of Applebaum v. CommissionerCourt of Appeals for the Third Circuit · 1983
- Estate of Joseph R. Applebaum, Deceased, the Fidelity Bank, Co-Executor, Joseph K. Koplin, Co-Executor, John A. Eichman, Co-Executor v. Commissioner of Internal Revenue. Appeal of Estate of Joseph R. Applebaum, in No. 82-3035. Florence K. Applebaum, in No. 83-3036 v. Commissioner of Internal RevenueCourt of Appeals for the Third Circuit · 1983
- Applebaum v. CommissionerUnited States Tax Court · 1982
- Estate of Applebaum v. CommissionerCourt of Appeals for the Third Circuit · 1983
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