ESTATE OF HAROLD v. COMMISSIONER

Docket No. 40005.

22 T.C. 807 (1954)

ESTATE OF HAROLD S. DAVIS, DECEASED, MARY DAVIS, EXECUTRIX, AND MARY DAVIS, SURVIVING WIFE, PETITIONERS, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.

United States Tax Court.

Filed June 30, 1954.


Attorney(s) appearing for the Case

John F. Langs, Esq., for the petitioners.

Charles Speed Gray, Esq., for the respondent.


The respondent determined a deficiency of $5,759.48 in the petitioners' income tax for 1948. The only issue for determination is whether an amount of $32,948.28 received by Mary Davis during 1948 and which represented the total proceeds of the interest of Harold S. Davis, deceased, in an employees' trust is to be considered as gain from the sale or exchange of a capital asset held for more than 6 months.

FINDINGS OF FACT.

A portion of the facts has been...

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