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ESTATE OF FOSTER v. COMMISSIONER

Docket Nos. 8936, 8939.

9 T.C. 930 (1947)

ESTATE OF WILLIAM H. FOSTER, ST. JOSEPH VALLEY BANK, EXECUTOR, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT. L. MAE FOSTER, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.

United States Tax Court.

Promulgated November 6, 1947.

Attorney(s) appearing for the Case

Verne G. Cawley, Esq., for the petitioners.

Jackson L. Boughner, Esq., for the respondent.

The respondent determined deficiencies in income tax for 1940 in the amounts of $21,923.34 against the estate of William H. Foster and $1,480.24 against L. Mae Foster. The estate, petitioner in Docket No. 8936, asks that we determine that there was an overpayment of $5,865.89 by the decedent for 1940. The facts are stipulated. The problem is to determine the basis of certain stock sold in 1940.

FINDINGS OF FACT.

The facts are found as stipulated. They are...

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