ALDERSON v. COMMISSIONER

Docket No. 88988.

38 T.C. 215 (1962)

JAMES ALDERSON, SURVIVING HUSBAND, AND ESTATE OF CLARISSA E. ALDERSON, DECEASED, JAMES ALDERSON, EXECUTOR, PETITIONERS, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.

United States Tax Court.

Filed May 7, 1962.


Attorney(s) appearing for the Case

Paul Frederic Marx, Esq., and Ernest J. Zack, Esq., for the petitioners.

Paul G. Wilson, Jr., Esq., for the respondent.


BRUCE, Judge:

Respondent determined a deficiency in income tax for the taxable year 1957 in the amount of $39,530.58.

Certain adjustments made by respondent are not contested.

The sole question for our determination is whether the transactions by which petitioners disposed of their title to certain realty, located in Orange County, California, and acquired title to certain other realty, located in Salinas, California, constituted a nontaxable...

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