Kampel v. Commissioner
United States Tax Court
In 1973, petitioner-husband, a partner in a business in which both capital and services are material income-producing factors, received from the partnership both distributions which are treated for the purposes of this case as guaranteed payments, within the meaning of sec. 707(c), I.R.C. 1954, and a distributive share of the partnership's income, gains, losses, and deductions.
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In 1973, petitioner-husband, a partner in a business in which both capital and services are material income-producing factors, received from the partnership both distributions which are treated for the purposes of this case as guaranteed payments, within the meaning of sec. 707(c), I.R.C. 1954, and a distributive share of the partnership's income, gains, losses, and deductions. Held, for the purposes of the maximum tax under sec. 1348, I.R.C. 1954, petitioners' earned income is limited to an amount which does not exceed 30 percent of the sum of the guaranteed payments plus…
1Opinion of the Court
OPINION
Featherston, Judge:
Respondent determined a deficiency in the amount of $39,773 in petitioners’ Federal income tax for 1973. The issue for decision is whether earned income, for the purposes of the 50-percent maximum tax prescribed by section 1348,1 is a sum equal to 30 percent of the total income which petitioner Daniel S. Kampel received from a partnership in which he was a member or a sum equal to both the amount which he received as manager of the partnership’s Pension Fund Department plus 30 percent of his distributive share of the partnership’s income, gains, losses, and…
2Cases cited8 opinions
- Commissioner v. South Texas Lumber Co.Supreme Court of the United States · 1948
- United States v. CorrellSupreme Court of the United States · 1967
- Commissioner v. StidgerSupreme Court of the United States · 1967
- Cagle v. CommissionerUnited States Tax Court · 1974
- Miller v. CommissionerUnited States Tax Court · 1969
3 more not listed; retrieve them via the Exa API.
3Cited by14 opinions
- International Tel. & Tel. Corp. etc. v. CommissionerUnited States Tax Court · 1981
- Daniel S. Kampel and Clarisse Kampel v. Commissioner of Internal RevenueCourt of Appeals for the Second Circuit · 1980
- JENKINS v. COMMISSIONERUnited States Tax Court · 1994
- Beals v. CommissionerUnited States Tax Court · 1987
- Fotis v. CommissionerUnited States Tax Court · 1989
9 more not listed; retrieve them via the Exa API.