McDowell v. Commissioner

Board of Tax Appeals

McDowell v. Commissioner

15 B.T.A. 947, 1929 BTA LEXIS 2769

CourtUnited States Board of Tax Appeals

DecidedMarch 18, 1929

DocketDocket Nos. 11271, 11272.

StatusPublished

Cited by1 cases

This text of 15 B.T.A. 947 (McDowell v. Commissioner) is published on Counsel Stack Legal Research, covering United States Board of Tax Appeals primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

McDowell v. Commissioner, 15 B.T.A. 947, 1929 BTA LEXIS 2769 (bta 1929).

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Opinion

OPINION.

Green:

In these proceedings the petitioners seek a redetermination of their income-tax liabilities for the year 1920, for which the respondent has determined deficiencies as follows:

S. L. McDowell-_$140.49

Mrs. S. L. McDowell_ 235. 94

The sole issue is the determination of the petitioners’ one-twentieth distributive share of the net income of the partnership of Norton & Cline for the year 1920. The respondent determined this to be $28,952.98 on the basis of a net income of the partnership of $579,059.60.

At the hearing, it was agreed and stipulated by and between the parties that all of the evidence introduced in the cases of Ella [948]*948Pipes Cline and W. D. Cline, Docket Nos. 6929 and 6930, with respect to the partnership of Norton & Cline, be considered as introduced in these proceedings and that the Board’s determination of the net income of Norton & Cline for the year 1920 should govern here.

In the Cline cases, supra, we determined that the net income of the partnership of Norton & Cline for the year 1920 was $348,215.35. We now determine that the petitioners’ one-twentieth distributive share of such net income is $17,413.17.

Judgment will be entered wider Rule SO.

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