O'Rear v. Commissioner
United States Board of Tax Appeals
1. Amounts received by an attorney from two other attorneys, with whom he entered into partnership on an equal basis, as "differential in division of fees and income of the firm business, due to the conceded excess value of good will and unearned fees of said O'Rear put into the firm" are a part of gross income and the petitioner is not entitled to any offset or deduction in this connection. 2. Basis for deduction for loss arising from fire determined.
1Opinion of the Court
*699OPINION.
Murdock :
The Commissioner determined deficiencies of $16,880.04, $2,281.58, $427.85 and $319.16 in the petitioner’s income tax for the calendar years 1922, 1923, 1924 and 1925, respectively. The petitioner has assigned the following errors:(1) The Commissioner of Internal Revenue erroneously included in income $50,000 received by the petitioner for a two-thirds interest in the practice of his profession, to-wit, attorney at law, for the year 1922.(2) The Commissioner of Internal Revenue erroneously refused to allow the petitioner a fire loss of $53,313.54 for the year 1922.(3) The…
2Cases cited10 opinions
- Metropolitan Bank v. St. Louis Dispatch Co.Supreme Court of the United States · 1893
- Sullivan v. CommissionerUnited States Board of Tax Appeals · 1924
- Cowan v. . FairbrotherSupreme Court of North Carolina · 1896
- Brown v. BenzingerCourt of Appeals of Maryland · 1912
- Menefee v. RankinsCourt of Appeals of Kentucky · 1914
5 more not listed; retrieve them via the Exa API.
3Cited by16 opinions
- Coburn v. Commissioner of Internal RevenueCourt of Appeals for the Second Circuit · 1943
- Watson v. CommissionerUnited States Tax Court · 1960
- Grant v. CommissionerUnited States Board of Tax Appeals · 1934
- Miller v. CommissionerUnited States Tax Court · 1971
- Butler v. CommissionerUnited States Tax Court · 1966
11 more not listed; retrieve them via the Exa API.