PER CURIAM.
Taxpayer in good faith sold to a third party two annuity contracts shortly before their maturity. He contends that the excess of sales price over net cost should be taxed at capital gains rates. The Tax Court, in an excellent opinion by Judge Bruce, upheld the Commissioner's finding that the sales resulted in ordinary income to the petitioner. We must agree.
Admittedly petitioner's gain arises from the fixed interest on the annuities. He would...
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