Fuchs v. Commissioner
United States Tax Court
Petitioner, a medical doctor, owned a 25-percent interest in a partnership which owned and managed a medical building. Disputes arose between the partners, and petitioner withdrew from the partnership, thus dissolving it, in 1969. Two years later, the medical building was condemned. Petitioner elected under sec. 1033(a), I.R.C. 1954, to defer recognition of his gain attributable to the condemnation of the building; however, no such election was filed by the partnership.
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Petitioner, a medical doctor, owned a 25-percent interest in a partnership which owned and managed a medical building. Disputes arose between the partners, and petitioner withdrew from the partnership, thus dissolving it, in 1969. Two years later, the medical building was condemned. Petitioner elected under sec. 1033(a), I.R.C. 1954, to defer recognition of his gain attributable to the condemnation of the building; however, no such election was filed by the partnership. Petitioner was treated as a partner on the partnership's 1971 return; and for the taxable years 1971 through 1974, he…
1Opinion of the Court
Morton Fuchs and Harriet M. Fuchs, Petitioners v. Commissioner of Internal Revenue, Respondent
Fuchs v. Commissioner
Docket No. 21820-80
United States Tax Court
80 T.C. 506; 1983 U.S. Tax Ct. LEXIS 106; 80 T.C. No. 22;
March 8, 1983, Filed
Decision will be entered for the respondent.
Petitioner, a medical doctor, owned a 25-percent interest in a partnership which owned and managed a medical building. Disputes arose between the partners, and petitioner withdrew from the partnership, thus dissolving it, in 1969. Two years later, the medical building was condemned. Petitioner elected under sec.…
2Cases cited4 opinions
- McManus v. CommissionerUnited States Tax Court · 1975
- Demirjian v. CommissionerUnited States Tax Court · 1970
- Demirjian v. CommissionerCourt of Appeals for the Third Circuit · 1972
- Fuchs v. CommissionerUnited States Tax Court · 1983