TAYLOR v. COMMISSIONER

Docket No. 63939.

19 T.C.M. 563 (1960)

T.C. Memo. 1960-105

John C. Taylor and Evelene B. Taylor v. Commissioner.

United States Tax Court.

Filed May 27, 1960.


Attorney(s) appearing for the Case

J. Alex Neely, Jr., Esq., 121 Sharpe Street Building, Anderson, S. C., for the petitioners. Miller Bowen, Esq., for the respondent.


Memorandum Findings of Fact and Opinion

FISHER, Judge:

This case involves a deficiency in income tax determined by respondent for the year 1951 in the amount of $20,016.58. The issues involved are: (1) What was the correct cost basis of petitioner's stock in the Independent Publishing Company; (2) whether petitioner received any money allocable to a claim that he owned a 50 per cent interest in a certain radio enterprise; (3) what was the sale price of petitioner...

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