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COMMISSIONER OF INTERNAL REVENUE v. WILLIAMS

No. 16796.

256 F.2d 152 (1958)

COMMISSIONER OF INTERNAL REVENUE, Petitioner, v. Claire Louise WILLIAMS, Respondent. Harold G. WILLIAMS, Petitioner, v. COMMISSIONER OF INTERNAL REVENUE, Respondent.

United States Court of Appeals Fifth Circuit.

June 17, 1958.

Attorney(s) appearing for the Case

Charles K. Rice, Asst. Atty. Gen., John N. Stull, Lee A. Jackson, Robert N. Anderson, Davis W. Morton, Jr., Attys., Dept. of Justice, Nelson P. Rose, Chief Counsel, John M. Morawski, Sp. Atty., I.R.S., Washington, D. C., for petitioner.

Edward McCarthy, Jacksonville, Fla., McCarthy, Lane & Adams, Jacksonville, Fla., of counsel, for respondent.

Before CAMERON, JONES and BROWN, Circuit Judges.

JONES, Circuit Judge.

We are here confronted with two questions of Federal income taxation; first, whether a realized profit from a sale was ordinary income or long-term capital gain; and second, whether the profit was realized by a partnership of husband and wife or by the husband alone.

Harold G. Williams and his wife, Claire Louise Williams resided at Jacksonville, Florida. He was Executive Vice President of Gulf Atlantic Transportation Company, owning...

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