ESTATE OF GOLDBERG v. COMMISSIONER

Docket No. 21599.

15 T.C. 10 (1950)

ESTATE OF MEYER GOLDBERG, DECEASED, ABRAHAM GOLDBERG AND SOLOMON GOLDBERG, EXECUTORS, PETITIONERS, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.

United States Tax Court.

Promulgated July 12, 1950.


Attorney(s) appearing for the Case

Benjamin E. Shove, Esq., for the petitioners.

Michael Waris, Jr., Esq., for the respondent.


The Commissioner has determined a deficiency in the income tax of the estate of Meyer Goldberg, deceased, of $22,320.89 for the period January 1, 1945 to August 31, 1945. The deficiency is due to the following adjustment to the net income as disclosed by the return: "(a) Unrealized profit on installment obligations $30,168.42." This adjustment is explained in the deficiency notice as follows:

(a) Unrealized profit on installment obligations, of $30,168.42 is included...

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