Roberts v. Commissioner
United States Tax Court
Ps were partners in three partnerships that were subject to the unified partnership procedures contained in sec. 6221 et seq., I.R.C. 1954. R mailed a notice of deficiency to Ps in which he disallowed Ps' claimed losses from the partnerships on the grounds that the losses exceeded the amounts for which Ps were at risk under sec. 465. R's determination was based upon alleged stop loss agreements with third parties.
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Ps were partners in three partnerships that were subject to the unified partnership procedures contained in sec. 6221 et seq., I.R.C. 1954. R mailed a notice of deficiency to Ps in which he disallowed Ps' claimed losses from the partnerships on the grounds that the losses exceeded the amounts for which Ps were at risk under sec. 465. R's determination was based upon alleged stop loss agreements with third parties. Held: Ps' amount at risk under sec. 465 was not an item required to be determined by the partnership and, therefore, is not a "partnership item" within the meaning of sec.…
1Opinion of the Court
OPINION
RUWE, Judge:
This case was assigned to Special Trial Judge Larry L. Nameroff pursuant to section 7443A(b) of the Code1 and Rule 180 et seq. The Court agrees with and adopts the opinion of the Special Trial Judge, which is set forth below.
OPINION OF THE SPECIAL TRIAL JUDGE
NAMEROFF, Special Trial Judge:
This case is before us on petitioners’ motion to dismiss for lack of jurisdiction and to strike the portions of respondent’s notice of deficiency pertaining to three partnerships: Paris Energy, Ltd. (Paris), Montague Energy Partners (Montague), and Comanche Energy Partners (Comanche)…
2Cases cited2 opinions
- Maxwell v. CommissionerUnited States Tax Court · 1986
- N.C.F. Energy Partners v. CommissionerUnited States Tax Court · 1987
3Cited by47 opinions
- Jade Trading, LLC ex rel. Ervin Capital, LLC v. United StatesUnited States Court of Federal Claims · 2007
- Dial USA, Inc. v. CommissionerUnited States Tax Court · 1990
- Hambrose Leasing 1984-5 Ltd. Partnership v. CommissionerUnited States Tax Court · 1992
- Ginsburg v. Comm'rUnited States Tax Court · 2006
- Cemco Investors, LLC v. United StatesCourt of Appeals for the Seventh Circuit · 2008
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