Jantzer v. Commissioner
United States Tax Court
1. Petitioners' partnership, as assignee of a contract concerning timber, contends for capital gains treatment under section 117(k)(2), I.R.C. 1939. Held, the contract conveyed no title and the requirement for a 6 months' holding period was not met. 2. As to a small tract of timber owned by said partnership, it retained no economic interest after its disposal as is required by section 117(k)(2), I.R.C. 1939. 3. Petitioners contend in the alternative for capital gains…
Read the full summary
1. Petitioners' partnership, as assignee of a contract concerning timber, contends for capital gains treatment under section 117(k)(2), I.R.C. 1939. Held, the contract conveyed no title and the requirement for a 6 months' holding period was not met. 2. As to a small tract of timber owned by said partnership, it retained no economic interest after its disposal as is required by section 117(k)(2), I.R.C. 1939. 3. Petitioners contend in the alternative for capital gains treatment under section 117(a), I.R.C. 1939, as to both the contract and the small tract of timber, both mentioned above. Held,…
1Opinion of the Court
FoeRbsteR, Judge:
In these consolidated proceedings the Commissioner determined deficiencies in the petitioners’ income tax as follows:
Docket No. Petitioners 1952 1953
66715 George L. and Emma E. Jantzer... $3,861.14 $8,087.62
66716 Theodore G. and Lorraine Jantzer. 3,843.52 7,772.24
66717 Lewis L. and Dorothy P. Jantzer.. 3,963.22 7,959.26
66718 Edmund W. and Ethel E. Pease_ 3,493.04 7,668.64
The issue for decision is whether certain partnership receipts qualify for long-term capital gains treatment under section 117 (k) (2) or 117 (a) of the Internal Revenue Code of 1939.
FINDINGS OP PACT.
Some of…
2Cases cited12 opinions
- Coquille Mill & Tug Co. v. Robert Dollar Co.Oregon Supreme Court · 1929
- Rayburn Et Ux. v. Crawford Et Ux.Oregon Supreme Court · 1949
- Hendrickson v. LyonsWashington Supreme Court · 1922
- Carroll v. Commissioner of Internal RevenueCourt of Appeals for the Fifth Circuit · 1934
- ANDERSON ET UX. v. MoothartOregon Supreme Court · 1953
7 more not listed; retrieve them via the Exa API.
3Cited by6 opinions
- George L. Jantzer Et At. v. Commissioner of Internal RevenueCourt of Appeals for the Ninth Circuit · 1960
- Giustina v. United StatesDistrict Court, D. Oregon · 1960
- Carpenter v. CommissionerUnited States Tax Court · 1961
- A. F. Lowes Lumber Co. v. CommissionerUnited States Tax Court · 1960
- Carpenter v. CommissionerUnited States Tax Court · 1961
1 more not listed; retrieve them via the Exa API.