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FARRIS v. COMMISSIONER OF INTERNAL REVENUE

No. 5033.

222 F.2d 320 (1955)

Leonard A. FARRIS and Katherine Farris, Petitioners, v. COMMISSIONER OF INTERNAL REVENUE, Respondent.

United States Court of Appeals Tenth Circuit.

April 28, 1955.

Attorney(s) appearing for the Case

Carl T. Smith, Wichita, Kan. (George B. Powers, John F. Eberhardt, Stuart R. Carter, Robert C. Foulston, Malcolm Miller, Robert N. Partridge and Robert M. Siefkin, Wichita, Kan., were with him on the brief), for petitioners.

Walter B. Langley, New York City (H. Brian Holland, Asst. Atty. Gen., Ellis N. Slack, Robert N. Anderson and George F. Lynch, Spe. Assts. to the Atty. Gen., were with him on the brief), for respondent.

Before HUXMAN, MURRAH and PICKETT, Circuit Judges.

HUXMAN, Circuit Judge.

The question presented by this appeal is whether in 1948 the petitioner, Leonard A. Farris, received ordinary income in the amount of $12,500 in connection with the liquidation of a partnership of which he was a member. Petitioner, Katherine Farris, is the wife of Leonard A. Farris and, as such, joined in the joint tax return. Further reference to her will not be necessary herein. The collector's determination that Farris received ordinary income...

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