Case Name: Appeals of HARRIET A. TAYLOR and JOHN J. ROWE
Court: United States Board of Tax Appeals
Jurisdiction: United States
Decision Date: 1925-11-04
Citations: 2 B.T.A. 1159
Docket Number: Docket Nos. 3066, 3067
Parties: Appeals of HARRIET A. TAYLOR and JOHN J. ROWE.
Judges: Before Steiinhagen, Lansdon, Geeen, and Love.
Reporter: Reports of the United States Board of Tax Appeals
Volume: 2
Pages: 1159–1160

Head Matter:
Appeals of HARRIET A. TAYLOR and JOHN J. ROWE.
Docket Nos. 3066, 3067.
Submitted May 29, 1925.
Decided November 4, 1925.
E. G. Grwen, G. P. A., for the taxpayers.
Blount Balls, Esq., for the Commissioner.
Before Steiinhagen, Lansdon, Geeen, and Love.

Opinion:
OPINION.
Green:
It is fundamental in the law of partnerships that the profits therefrom need not be divided according to the capital contributions of the several partners, and that the percentages to be received by the individual partners may be varied from time to time as they agree. This being true, the only question presented to us is whether these parties actually effected a new arrangement for the distribution of profits. From all of the evidence presented we are convinced that the agreement for the distribution and the actual distribution of profits was made as claimed by the taxpayers.