Asbury v. Commissioner

APPEAL OF J. E. ASBURY.
Asbury v. Commissioner
Docket No. 6723.
United States Board of Tax Appeals
4 B.T.A. 1244; 1926 BTA LEXIS 2019;
September 30, 1926, Decided
*2019 Geo M. Stanton, Esq., for the petitioner.
M. N. Fisher, Esq., for the Commissioner.

MORRIS

*1244 This appeal is from the determination of a deficiency of $1,165.37 in income tax for the year 1919. The only question involved is the correctness of the Commissioner's action in including in the petitioner's *1245 gross income for the calendar year 1919 his distributive share of a partnership's income for its entire fiscal year ended August 31, 1919.

FINDINGS OF FACT.

Petitioner is a resident of Elberton, Ga. During 1920 his tax liability was investigated by an internal revenue agent, who included in his income for the calendar year 1918 a proportionate part of the earnings for the period September 1, 1918, to December 31, 1918, of Elberton Cotton & Compress Co., a partnership of which the petitioner was a member, and which was on a fiscal year basis ended August 31. Based on such investigation, he paid an additional tax of $461.40 for the year 1918. The Commissioner has now included the petitioner's distributive share of the earnings of the Elberton Cotton & Compress Co. for the entire fiscal year beginning September 1, 1918, and ending*2020 August 31, 1919, in his income for 1919.

The petitioner renders his return on a calendar year basis.

OPINION.

MORRIS: The adjustment, upon which the petitioner alleges error, of his income for the calendar year 1919 from the partnership of which he was a member, having a fiscal year ended August 31, is in accordance with section 218(a) of the Revenue Act of 1918. .

Judgment for the Commissioner.