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TOLL v. COMMISSIONER

Docket No. 75290.

20 T.C.M. 1548 (1961)

T.C. Memo. 1961-301

Elmer J. Toll and Ida Toll v. Commissioner.

United States Tax Court.

Filed October 31, 1961.

Attorney(s) appearing for the Case

Reuben Miller, Esq., Bankers Securities Bldg., Philadelphia, Pa., for the petitioners. David E. Crabtree, Esq., for the respondent.

Memorandum Findings of Fact and Opinion

SCOTT, Judge:

Respondent determined a deficiency in petitioners' income tax for 1955 in the amount of $7,302.58. The only question for decision is whether the gain realized by petitioners from the sale of certain real property in 1955 was capital gain as reported by them or ordinary income as determined by respondent.

Findings of Fact

Some of the...

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