Lawrence Y. S. Au and Wrona K. H. Au, Petitioners, v. Commissioner of Internal Revenue, Respondent, 330 F.2d 1008 (9th Cir. 1964)
Annotate this CaseRehearing Denied June 8, 1964
Lawrence Y. S. Au, Honolulu, Hawaii, in pro. per. for appellant.
Louis F. Oberdorfer, Asst. Atty. Gen., Lee A. Jackson, David O. Walter, Stephen B. Wolfberg, and Herbert Goodwin, Attys., Dept. of Justice, Washington, D. C., for appellee.
Before CHAMBERS, KOELSCH and BROWNING, Circuit Judges.
PER CURIAM.
The Tax Court held that the basis for depreciation of a nonbusiness property which the taxpayers transferred to a business partnership as part of their contribution was the fair market value of such property at the time of such transaction (40 T.C. 264). This conclusion finds support in and is consistent with the doctrine implied in Helvering v. Owens, 305 U.S. 468, 59 S. Ct. 260, 83 L. Ed. 292 (1939).
The judgment of the Tax Court in determining a deficiency is affirmed.
Some case metadata and case summaries were written with the help of AI, which can produce inaccuracies. You should read the full case before relying on it for legal research purposes.
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.
