By this proceeding petitioner contests respondent's determination of a deficiency of $1,313.81 in income tax for the year 1944. The only question is whether $4,000 received by petitioner is excludable from taxable income as a gift as petitioner contends, or is taxable as determined by respondent as either compensation for services or distribution of profits. Other adjustments are not contested.
FINDINGS OF FACT.
Petitioner filed a Federal income tax return...
Let's get started
Welcome to the leading source of independent legal reporting
Sign on now to see your case.
Or view more than 10 million decisions and orders.
- Updated daily.
- Uncompromising quality.
- Complete, Accurate, Current.
