- 14 -
Commissioner v. Culbertson, 337 U.S. at 742; S & M Plumbinq Co.
v. Commissioner, 55 T.C. 702, 707 (1971). Certain factors are
indicative of such an intent.
In Allison v. Commissioner, T.C. Memo. 1976-248, we noted
four basic attributes of a joint venture or partnership: (1) A
contract that a joint venture be formed; (2) the contribution of
money, property, and/or services; (3) an agreement for joint
proprietorship and control; and (4) an agreement to share
profits. Id.; see also S & M Plumbing Co. v. Commissioner, supra
at 707. Boulder, Tech-1979, and Winfield have all four of these
attributes.
In Johnson v. United States, 632 F. Supp. 172, 174 (W.D.
N.C. 1986), the following factors were particularly relevant to a
conclusion that a partnership existed: (1) Whether a partnership
agreement existed; (2) whether the investors represented to
others that they were partners; (3) whether the investors had a
proprietary interest in partnership profits and losses;
(4) whether the investors had a right to control partnership
income and capital; and (5) whether the investors contributed
capital and services. See also United States v. Levasseur, 45
AFTR 2d 80-1507 at 1511, 80-1 USTC par. 9349 at 83,880 (D. Vt.
1980) (citing Estate of Kahn v. Commissioner, 499 F.2d 1186, 1189
(2d Cir. 1974), affg. Grober v. Commissioner, T.C. Memo. 1972-
240).
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