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MURDOCH v. COMMISSIONER

Docket Nos. 89551, 92922.

21 T.C.M. 1061 (1962)

T.C. Memo. 1962-196

John P. and Eleanor Murdoch v. Commissioner. Henrietta O. Murdoch v. Commissioner.

United States Tax Court.

Filed August 16, 1962.

Attorney(s) appearing for the Case

David P. Brown, Jr., Esq., and Thomas B. Harper, Esq., for the petitioners in Docket No. 89551. Henry D. O'Connor, Esq., 129 Peyton Ave., Haddonfield, N. Y., for the petitioner in Docket No. 92922. Malin VanAntwerp, Esq., for the respondent.

Memorandum Findings of Fact and Opinion

Respondent determined the following deficiencies in the income tax of petitioners for the year 1957:

  John P. and Eleanor Murdoch....    $9,709.99
  Henrietta O. Murdoch...........     4,912.51

The principal issue is whether a payment of $16,500 in 1957 by John P. Murdoch to Henrietta O. Murdoch was a capital transaction or one giving rise to ordinary income to the recipient and a deductible expense...

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