Close v. Commissioner

1959 T.C. Memo. 71, 18 T.C.M. 348, 1959 Tax Ct. Memo LEXIS 177
CourtUnited States Tax Court
DecidedApril 14, 1959
DocketDocket No. 63304.
StatusUnpublished

This text of 1959 T.C. Memo. 71 (Close v. Commissioner) is published on Counsel Stack Legal Research, covering United States Tax Court primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook
Close v. Commissioner, 1959 T.C. Memo. 71, 18 T.C.M. 348, 1959 Tax Ct. Memo LEXIS 177 (tax 1959).

Opinion

William Edgar Close v. Commissioner.
Close v. Commissioner
Docket No. 63304.
United States Tax Court
T.C. Memo 1959-71; 1959 Tax Ct. Memo LEXIS 177; 18 T.C.M. (CCH) 348; T.C.M. (RIA) 59071;
April 14, 1959
*177 Kenneth Cleaver, Esq., 2120 Colorado Boulevard, Los Angeles, Calif., for the petitioner. Eugene F. Reardon, Esq., for the respondent.

RAUM

Memorandum Findings of Fact and Opinion

The respondent determined the following deficiencies in income taxes and additions to tax:

Additions to Tax,
I.R.C. 1939
Sec.Sec. 294Sec. 294
YearDeficiency293(b)(d)(1)(A)(d)(2)
1947$ 486.07$ 243.03$ 52.78$ 35.18
1948650.19325.0976.9051.25
19494,825.572,412.78563.83375.87
19503,903.621,951.81419.62279.75
$9,865.45$4,932.71$1,113.13$742.05

The issues are:

1. Whether part of the deficiency for each of the years 1947, 1948, 1949 and 1950 was due to fraud with intent to evade tax.

2. Whether petitioner is liable for the additions to tax provided for in Section 294(d)(2) for making substantial underestimate of estimated tax.

3. Whether petitioner sustained deductible losses from gambling in the amount of $287.70 in the year 1947 and in the amount of $199 in the year 1950.

4. Whether petitioner is entitled to a deduction for child support in the amount of $900 for the year 1950.

*178 The petitioner concedes that he is liable for the additions to tax provided for in Section 294(d)(1)(A) for failure to file declarations of estimated tax for each of the years 1947 through 1950. Petitioner does not contest the basic deficiencies determined by the Commissioner except as they are affected by issues 3 and 4.

Findings of Fact

A stipulation of facts filed by the parties is incorporated herein by reference.

Petitioner, a resident of Glendale, California, filed his income tax returns for the taxable years with the then collector of internal revenue for the sixth district of California.

Petitioner has been in the coffee business since 1915. During the taxable years he was employed as the manager of the coffee and manufacturing division of the Smart & Final Company of Glendale, California (hereinafter sometimes referred to as Smart & Final), a corporation engaged in the wholesale grocery business. Its activities, among others, included the purchase of green coffee for roasting and the sale of the roasted coffee to its customers. At times during the taxable years Smart & Final had green coffee in excess of its requirements and would sell this excess coffee. Petitioner*179 handled such sales for the company.

During the years 1947 through 1950 William J. Morton was a green coffee broker engaged in the business of buying various types of green coffee and selling it to coffee roasters in the Los Angeles area. Prior to November 1949 Morton engaged in this business as an individual. In November 1949 the business was incorporated and became W. J. Morton, Inc. (As used hereinafter the name "Morton" will be used to refer to William J. Morton individually, or to his corporation, or to William J. Morton acting for his corporation.) Petitioner, acting as agent for Smart & Final, had sold green coffee to Morton prior to 1947. During the years 1947 through 1950 coffee was in short supply and there was an upward swing in the market.

Early in 1947, at the suggestion of petitioner, he and Morton entered into an oral agreement the substance of which was that petitioner, acting as agent for Smart & Final, would sell green coffee to Morton and thereupon petitioner and Morton would share equally any profits or losses resulting from the resale of that coffee by Morton. Morton shared the profit on resale with petitioner because petitioner was selling the coffee to him*180 at a price which was from one-quarter to one-half cent per pound lower than Morton could purchase it elsewhere. Neither petitioner nor Morton told Smart & Final about their profit-sharing agreement.

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Related

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319 U.S. 503 (Supreme Court, 1943)
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16 T.C. 981 (U.S. Tax Court, 1951)
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Estate of Carruth v. Commissioner
28 T.C. 871 (U.S. Tax Court, 1957)
King v. Commissioner
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Pigman v. Commissioner
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Rogers v. Commissioner
38 B.T.A. 16 (Board of Tax Appeals, 1938)

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Bluebook (online)
1959 T.C. Memo. 71, 18 T.C.M. 348, 1959 Tax Ct. Memo LEXIS 177, Counsel Stack Legal Research, https://law.counselstack.com/opinion/close-v-commissioner-tax-1959.