Tyree v. Commissioner
United States Tax Court
At the time of his death, August 21, 1946, petitioner's decedent was a member of a Utah partnership. Decedent reported on the basis of the calendar year and the firm on the basis of a fiscal year ending February 28. The partnership agreement provided that upon the death of a partner, the firm could be continued not only for the purpose of winding up the business and liquidating the capital account of the deceased partner, but also for the remainder of the term fixed therein,…
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At the time of his death, August 21, 1946, petitioner's decedent was a member of a Utah partnership. Decedent reported on the basis of the calendar year and the firm on the basis of a fiscal year ending February 28. The partnership agreement provided that upon the death of a partner, the firm could be continued not only for the purpose of winding up the business and liquidating the capital account of the deceased partner, but also for the remainder of the term fixed therein, and upon the terms and conditions set forth therein. Held, the tax year of the partnership did not end with the death…
1Opinion of the Court
OPINION.
Van Fossan, Judge:
Basically, we have here the question whether a partnership tax year terminates upon the death of a partner, insofar as the deceased partner is concerned, thereby making his distributive share of partnership earnings includible in his gross income for his final return where the partnership agreement provides for a continuance of the same. The pertinent provisions of the Internal Revenue Code are set forth in the margin.1
The question at issue has been before the courts on numerous occasions and the rulings are not uniform. In Estate of Hunt Henderson, 4 T. C. 1001,…
2Cases cited7 opinions
- Commissioner of Internal Revenue v. Mnookin's EstateCourt of Appeals for the Eighth Circuit · 1950
- Guaranty Trust Co. v. CommissionerSupreme Court of the United States · 1938
- Mnookin v. CommissionerUnited States Tax Court · 1949
- Girard Trust Co. v. United StatesCourt of Appeals for the Third Circuit · 1950
- Commissioner of Internal Revenue v. Waldman's EstateCourt of Appeals for the Second Circuit · 1952
2 more not listed; retrieve them via the Exa API.
3Cited by5 opinions
- Commissioner of Internal Revenue v. Tyree's EstateCourt of Appeals for the Tenth Circuit · 1954
- Knipp v. CommissionerUnited States Tax Court · 1955
- Knipp v. CommissionerUnited States Tax Court · 1955
- Ollendorff v. CommissionerUnited States Tax Court · 1959
- Tyree v. CommissionerUnited States Tax Court · 1953