Estate of Goldstein v. Commissioner
United States Tax Court
During the early part of 1951, William and Harry Goldstein were equal partners in a business which bought, stored, processed, and sold scrap metal. The partnership used the calendar year in reporting income.
Read the full summary
During the early part of 1951, William and Harry Goldstein were equal partners in a business which bought, stored, processed, and sold scrap metal. The partnership used the calendar year in reporting income. By an agreement dated April 21, 1951, William purchased Harry's interest in the partnership for $ 125,000. Held, that the income of the business for the period January 1 through April 21, 1951, is the distributable income to the partners, 50 per cent to William and 50 per cent to Harry, and is to be accounted for as such in computing the gain realized by Harry from the sale of his…
1Opinion of the Court
Estate of William Goldstein, Deceased, Maurice Stern and Matye Goldstein, Co-Executors, and Matye Goldstein, Surviving Wife, Petitioners, v. Commissioner of Internal Revenue, Respondent. Estate of Harry S. Goldstein, Deceased, Anna L. Goldstein and Edwin Letzter, Executors, and Anna L. Goldstein, Individually, Petitioners, v. Commissioner of Internal Revenue, Respondent
Estate of Goldstein v. Commissioner
Docket Nos. 60018, 60385
United States Tax Court
29 T.C. 931; 1958 U.S. Tax Ct. LEXIS 252;
February 21, 1958, Filed
Decisions will be entered under Rule 50.
During the early part of 1951, William…
2Cases cited3 opinions
- Woodyard's heirs v. ThrelkeldCourt of Appeals of Kentucky · 1816
- Keith v. HumphriesCourt of Appeals of Kentucky · 1817
- Estate of Goldstein v. CommissionerUnited States Tax Court · 1958