HORTON v. COMMISSIONER

Docket No. 40364.

13 T.C.M. 899 (1954)

T. C. Memo. 1954-161

Ralph A. Horton and Louisa L. Horton v. Commissioner.

United States Tax Court.

Filed September 28, 1954.


Attorney(s) appearing for the Case

Robert C. Claiborne, Esq., Julian E. Ross, Esq., 608 Sweet Building, Fort Lauderdale, Fla., and Charles H. Lindfors, C. P. A., for the petitioners. Alben E. Carpens, Esq., for the respondent.


Memorandum Findings of Fact and Opinion

Respondent determined a deficiency in petitioners' income taxes for 1948 and 1949 in the respective amounts of $1,933.36 and $6,257.54. The sole issue is whether the respondent erred in his determination that for the taxable years involved the gain realized by petitioners from the sales of certain real estate constituted ordinary income.

Findings of Fact

Petitioners, husband and wife, are residents of Fort...

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