Respondent determined a deficiency of $1,913.44 in petitioners' income tax for the year 1950. Petitioners do not contest some of the adjustments. The sole question to be decided is whether certain sums received by John S. Pankratz from a partnership of which he was a member constituted either ordinary income or short-term capital gain, rather than long-term capital gain.
FINDINGS OF FACT.
Some of the facts have been stipulated and are found accordingly....
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.
