About | HeinOnline Law Journal Library | HeinOnline Law Journal Library | HeinOnline

INCOME TAX PROJECT 1 (MEETING ON TAX TREATMENT OF BROKERAGE PARTNERSHIPS, February 28, 1952)

handle is hein.ali/aliftp0395 and id is 1 raw text is: MEETING ON AX TEATMENT OF BROKERAGE PARTNERSHIPS
February 28, 1952
Norris Darrell (Sullivan & Cromwell)
Edwin Cohen (Hatch, Root, B3arrett, Cohen & Knapp)
Charles C. Parlin (Shearman & Sterling & Wright)
Nelson Adams (Davis, Polk, Wardwell, Sunderland & Kiendl)
John P. Ohl (Cahill, Gordon, Zachary & Reindel)
George G. Tyler (Cravath, Swaine & Moore)
Robert A. McDowell ( Sullivan & Cromwell)
Richard H. Appert (White and Case)
William C. Warren
Eugene J. Kaplan
Purpose:
The meeting was arranged to hear the vlews of attorneys who rep-
resented and were acquainted with the problems of large brokerage
partnerships on the kind of tax treatment which they felt was desirable
and feasible in connection with such partnerships. The problems to be
discussed were set-forth in the following agenda which was sent to the
participants:
1. Contributed Property. Should the amount of money and the basis
of property contributed by a partner be reflected in the basis of his
partnership interest? This would result in the realization at the time
.of the dissolution of the partnership or the disposal of a partnership
interest of gain or loss on any pre-contribution appreciation or decrease
in the value of the property. Such a result will be avoided in the case
of the average partnership since gain or lose on termination of a partner's
interest in believed to be undesirable. Which rule would brokerage
partners prefer?

What Is HeinOnline?

HeinOnline is a subscription-based resource containing thousands of academic and legal journals from inception; complete coverage of government documents such as U.S. Statutes at Large, U.S. Code, Federal Register, Code of Federal Regulations, U.S. Reports, and much more. Documents are image-based, fully searchable PDFs with the authority of print combined with the accessibility of a user-friendly and powerful database. For more information, request a quote or trial for your organization below.



Contact us for annual subscription options:

Already a HeinOnline Subscriber?

profiles profiles most