KRIST v. COMMISSIONER

Docket Nos. 28970, 28971.

12 T.C.M. 801 (1953)

Ed Krist v. Commissioner. Florine Krist v. Commissioner.

United States Tax Court.

Entered July 8, 1953.


Attorney(s) appearing for the Case

Arthur B. Willis, Esq., for the petitioners. Charles H. Chase, Esq., for the respondent.


Memorandum Findings of Fact and Opinion

These consolidated proceedings involve deficiencies in income tax for the calendar year 1944 of $43,406.44 for Ed Krist (hereinafter referred to as the petitioner) and $43,406.46 for Florine Krist, his wife.

The issues to be determined are: (1) whether petitioner sold his interest in a partnership and is entitled to accord capitalgains treatment to the profit therefrom; and (2) whether installment obligations owned...

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