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ESTATE OF MELNIK v. COMMISSIONER

Docket No. 77607.

20 T.C.M. 74 (1961)

T.C. Memo. 1961-18

Estate of Leo Melnik, Deceased, Samuel Goldenberg, Executor, and Estate of Rose M. Melnik, Deceased, Samuel Goldenberg, Successor Trustee of the Trusts Created by The Last Will and Testament of Rose M. Melnik, Deceased v. Commissioner.

United States Tax Court.

Filed January 27, 1961.

Attorney(s) appearing for the Case

J. Curtis McKay, Esq., for the petitioners. John L. Pedrick, Esq., for the respondent.

Memorandum Findings of Fact and Opinion

FISHER, Judge:

Respondent determined deficiencies in income tax of the decedents as follows:

  Year    Income Tax

  1954 ...................    $  937.49
  1955 ...................     1,510.22

The basic question presented is whether or not payments to Melnik by Karan for Melnik's interest in good will represent capital gain or ordinary income.

Findings of Fact

Some of...

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