TURNER v. COMMISSIONER

Docket No. 88286.

38 T.C. 304 (1962)

FLOYD L. TURNER AND HELEN H. TURNER, PETITIONERS, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.

United States Tax Court.

Filed May 18, 1962.


Attorney(s) appearing for the Case

Irwin G. Stirgwolt, Esq., and Clark E. Loofbourrow, Esq., for the petitioners.

Henry T. Nicholas, Esq., for the respondent.


MULRONEY, Judge:

The respondent determined deficiencies in petitioners' income tax for the years 1956, 1957, and 1958 in the amounts of $1,204.28, $4,042.63, and $780.81, respectively.

All of the adjustments to income determined by respondent or asserted in pleadings have been disposed of by stipulation with the exception of the single issue presented here, which is: Does the sum of $14,603.45 received by petitioner under a contract of sale dated February...

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