Legal Opinion
Koch v. Director, Division of Taxation
New Jersey Tax Court
Decided October 31, 1995PublishedCited by 3 opinions
1Opinion of the Court
CRABTREE, J.T.C.
Plaintiffs seek review of a deficiency in gross income tax determined by defendant for tax year 1988 in the amount of $6,826, plus interest and penalty.
*389The issues in this case are (1) whether plaintiffs1 share of partnership indebtedness released at the time of and as part of the consideration for the sale of plaintiffs interest in the partnership constitutes cancellation of indebtedness income, or part of the net gain, or income from the disposition of property within the purview of N.J.S.A. 54A:5-l(c); (2) whether plaintiffs basis in his partnership interest should be the…
2Cases cited8 opinions
- Jack E. Golsen and Sylvia H. Golsen v. Commissioner of Internal RevenueCourt of Appeals for the Tenth Circuit · 1971
- Commissioner v. TuftsSupreme Court of the United States · 1983
- Smith v. Director, Division of TaxationSupreme Court of New Jersey · 1987
- Golsen v. CommissionerUnited States Tax Court · 1970
- Gershkowitz v. CommissionerUnited States Tax Court · 1987
3 more not listed; retrieve them via the Exa API.
3Cited by3 opinions
- Koch v. Director, Division of TaxationSupreme Court of New Jersey · 1999
- Weintraub v. Director, Division of TaxationNew Jersey Tax Court · 2000
- Koch v. DirectorNew Jersey Superior Court Appellate Division · 1997