McCOY v. COMMISSIONER

Docket No. 83102.

38 T.C. 841 (1962)

LAWRENCE W. McCOY AND ILO P. McCOY, PETITIONERS, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.

United States Tax Court.

Filed September 13, 1962.


Attorney(s) appearing for the Case

William L. Taylor, Jr., Esq., for the petitioners.

Robert L. Ackerson, Esq., for the respondent.


ATKINS, Judge:

The respondent determined a deficiency in income tax in the amount of $221.69 for the taxable year 1956. The only issue for decision is the fair market value of an automobile received by the petitioner as a prize.

FINDING OF FACTS.

Some of the facts have been stipulated and are incorporated herein by this reference.

Petitioners are husband and wife residing in Nashville, Tennessee. They filed a joint income tax return...

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