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STACKHOUSE v. UNITED STATES

Nos. 30832, 30833 Summary Calendar.

441 F.2d 465 (1971)

Vincent STACKHOUSE and wife, Erma Lee Stackhouse, Plaintiffs-Appellants, v. UNITED STATES of America, Defendant-Appellee. Robert V. WILLIAMS and wife, Rachel Williams, Plaintiffs-Appellants, v. UNITED STATES of America, Defendant-Appellee.

United States Court of Appeals, Fifth Circuit.

April 23, 1971.

Attorney(s) appearing for the Case

Howard H. Hasting, San Antonio, Tex., for plaintiffs-appellants.

Johnnie M. Walters, Asst. Atty. Gen., Seagal V. Wheatley, U. S. Atty., Dept. of Justice, Washington, D. C., William W. Guild, Dept. of Justice, Fort Worth, Tex., Meyer Rothwacks, Harry Baum, Stephen H. Hutzelman, Attys., Tax Division, Dept. of Justice, Washington, D. C., for defendant-appellee.

Before WISDOM, COLEMAN, and SIMPSON, Circuit Judges.

WISDOM, Circuit Judge:

These consolidated income tax cases present the single question whether the settlement of a partnership's liability resulting in a decrease of each partner's share of the liabilities of the partnership should be "considered" as a distribution of money to the partners (the taxpayers). We hold that it should be so considered under § 752 of the 1954 Internal Revenue Code. Accordingly, we reverse the district court's holding that taxpayers...

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