Hill v. Commissioner
United States Tax Court
Petitioner was employed as a writer-producer by KTTV at an agreed salary and an agreement that in addition to this salary he was to have a 5-percent interest in certain receipts from TV programs to which he was assigned. KTTV sold a series which had been written and produced by petitioner and paid petitioner 5 percent of its net profit from the sale.
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Petitioner was employed as a writer-producer by KTTV at an agreed salary and an agreement that in addition to this salary he was to have a 5-percent interest in certain receipts from TV programs to which he was assigned. KTTV sold a series which had been written and produced by petitioner and paid petitioner 5 percent of its net profit from the sale. Held, the amount received by petitioner from KTTV representing 5 percent of that company's net profit from the sale of the TV series was ordinary income and not capital gain.
1Opinion of the Court
Scott, Judge:
Respondent determined a deficiency in petitioners’ income tax for the calendar year 1962 in the amount of $13,350.24.
The issue for decision is whether an amount received by one of petitioners, representing a portion of the receipts by the company by which he was employed from the sale of a television production was taxable as capital gain or ordinary income.
BINDINGS OB BACT
Some of the facts have been stipulated and are found accordingly.
Jackson Hill and Irene Hill, during the year 1962, were husband and wife residing in Van Huys, Calif. They filed a joint Federal income tax…
2Cases cited6 opinions
- Commissioner v. Gillette Motor Transport, Inc.Supreme Court of the United States · 1960
- Nat Holt and Blanche Holt, Husband and Wife v. Commissioner of Internal RevenueCourt of Appeals for the Ninth Circuit · 1962
- Lehman v. CommissionerUnited States Tax Court · 1951
- Holt v. CommissionerUnited States Tax Court · 1961
- Arthur Kurlan and Marilyn Kurlan v. Commissioner of Internal Revenue, Commissioner of Internal Revenue v. Arthur Kurlan and Marilyn KurlanCourt of Appeals for the Second Circuit · 1965
1 more not listed; retrieve them via the Exa API.
3Cited by6 opinions
- Rothstein v. CommissionerUnited States Tax Court · 1988
- Edwards v. CommissionerUnited States Tax Court · 1968
- Edwards v. CommissionerUnited States Tax Court · 1968
- Hill v. CommissionerUnited States Tax Court · 1967
- Levy v. CommissionerUnited States Tax Court · 1992
1 more not listed; retrieve them via the Exa API.