GRIFFIN v. COMMISSIONER

Docket No. 65139.

33 T.C. 616 (1959)

Z. WAYNE GRIFFIN AND ELINOR W. GRIFFIN, PETITIONERS, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.

United States Tax Court.

Filed December 31, 1959.


Attorney(s) appearing for the Case

Stanley C. Anderson, Esq., for the petitioners.

Donald P. Chehock, Esq., and Cyrus A. Johnson, Esq., for the respondent.


FORRESTER, Judge:

Respondent has determined a deficiency in the 1951 income tax of petitioners in the amount of $23,675.15. The sole issue remaining is whether respondent erred in determining that the gain realized on the sale of a certain story is taxable as ordinary income.

FINDINGS OF FACT.

The stipulated facts are so found.

Petitioners, husband and wife, are residents of Los Angeles, California. Their joint income tax return for...

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