Case Name: Lawrence Y. S. AU and Wrona K. H. Au, Petitioners, v. COMMISSIONER OF INTERNAL REVENUE, Respondent
Court: United States Court of Appeals for the Ninth Circuit
Jurisdiction: United States
Decision Date: 1964-04-24
Citations: 330 F.2d 1008
Docket Number: No. 18910
Parties: Lawrence Y. S. AU and Wrona K. H. Au, Petitioners, v. COMMISSIONER OF INTERNAL REVENUE, Respondent.
Judges: 
Reporter: Federal Reporter 2d Series
Volume: 330
Pages: 1008–1009

Head Matter:
Lawrence Y. S. AU and Wrona K. H. Au, Petitioners, v. COMMISSIONER OF INTERNAL REVENUE, Respondent.
No. 18910.
United States Court of Appeals Ninth Circuit.
April 24, 1964.
Rehearing 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.

Opinion:
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.