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McDONALD v. COMMISSIONER OF INTERNAL REVENUE

Nos. 12122-12128.

217 F.2d 475 (1954)

R. H. McDONALD, et al., Petitioners, v. COMMISSIONER OF INTERNAL REVENUE, Respondent. Charles E. LOVELL, et al., Petitioners, v. COMMISSIONER OF INTERNAL REVENUE, Respondent. Hans P. LAURITZEN, et al., Petitioners, v. COMMISSIONER OF INTERNAL REVENUE, Respondent. ESTATE of E. H. KELLER, etc., Petitioners, v. COMMISSIONER OF INTERNAL REVENUE, Respondent. Harris B. McLAREN, et al., Petitioners, v. COMMISSIONER OF INTERNAL REVENUE, Respondent. Herman J. SHEEDY, et al., Petitioners, v. COMMISSIONER OF INTERNAL REVENUE, Respondent. Charles B. McDONALD, et al., Petitioners, v. COMMISSIONER OF INTERNAL REVENUE, Respondent.

United States Court of Appeals, Sixth Circuit.

Decided December 9, 1954.

Attorney(s) appearing for the Case

Herbert Bruce Griswold, Edwin G. Halter, Cleveland, Ohio (Kenneth Resseger, Cleveland, Ohio, on the brief), for petitioners.

S. Dee Hanson, Washington, D. C. (H. Brian Holland, Ellis N. Slack, and Howard P. Locke, Washington, D. C., on the brief), for respondent.

Before McALLISTER, MILLER, and STEWART, Circuit Judges.

McALLISTER, Circuit Judge.

The issue before us is whether a distribution of cash from a trustee, under a so-called land trust, to a taxpayer partnership1 constituted ordinary income or a return of capital. The determination of the issue depends on whether the amounts which were distributed had accrued before purchase by the taxpayer of certificates of the land trust in November and December of 1946, and in January of 1947. If the amounts...

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