LIMA v. COMMISSIONER

Docket No. 29657.

11 T.C.M. 114 (1952)

John Lima and Marion Lima v. Commissioner.

United States Tax Court.

Entered February 8, 1952.


Attorney(s) appearing for the Case

W. S. Miller, Jr., Esq., and E. Chas. Eichenbaum, Esq., Boyle Bldg., Little Rock, Ark., for the petitioner. W. B. Riley, Esq., for the respondent.


Memorandum Findings of Fact and Opinion

The respondent determined a deficiency in income tax and penalty for the taxable year 1945 as follows:

  Year              Income Tax      Penalty

  1945 ............    $1,280.76    $640.38

The issues to be decided are: (1) the amount of gain or loss realized by petitioners on the sale of two pieces of realty, one located at 700-702 East 3rd Street, and the other at 105 West 24th Street, both in...

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