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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