Red Carpet Car Wash, Inc. v. Commissioner
United States Tax Court
Held, Larry Lange Ford, Inc., was the owner of a partnership interest in Rollingwood Apartments, Ltd., in 1973 and 1974, and is entitled to deduct its allocable share of the partnership losses for those years. Held, further, under sec. 1561, I.R.C. 1954, Larry Lange Ford, Inc., is entitled to one-half of the single surtax exemption allowed by sec. 11(d).
1Opinion of the Court
Red Carpet Car Wash, Inc., Petitioner v. Commissioner of Internal Revenue, Respondent; Larry Lange Ford, Inc., Petitioner v. Commissioner of Internal Revenue, Respondent
Red Carpet Car Wash, Inc. v. Commissioner
Docket Nos. 4829-77, 4830-77
United States Tax Court
73 T.C. 676; 1980 U.S. Tax Ct. LEXIS 205;
January 10, 1980, Filed
Decisions will be entered under Rule 155.
Held, Larry Lange Ford, Inc., was the owner of a partnership interest in Rollingwood Apartments, Ltd., in 1973 and 1974, and is entitled to deduct its allocable share of the partnership losses for those years. Held, further, under…
2Cases cited12 opinions
- New Colonial Ice Co. v. HelveringSupreme Court of the United States · 1934
- Higgins v. SmithSupreme Court of the United States · 1940
- Moline Properties, Inc. v. CommissionerSupreme Court of the United States · 1943
- Paymer v. Commissioner of Internal RevenueCourt of Appeals for the Second Circuit · 1945
- Strong v. CommissionerUnited States Tax Court · 1976
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