GLONINGER v. COMMISSIONER

Docket No. 887-62.

22 T.C.M. 1635 (1963)

T.C. Memo. 1963-310

Diana D. and Irving L. W. Gloninger v. Commissioner.

United States Tax Court.

Filed November 25, 1963.


Attorney(s) appearing for the Case

Frederick C. Fiechter, Jr., for the petitioners. Malin VanAntwerp and Francis J. Cantrel, for the respondent.


Memorandum Findings of Fact and Opinion

MULRONEY, Judge:

The respondent determined deficiencies in petitioners' income tax for 1958 and 1959 in the respective amounts of $640.11 and $350.18. By amendment to the answer and reply thereto, respondent claimed and petitioners admitted an additional deficiency in the amount of $126.46 for 1958 arising from unreported sale of stock.

The issue in the case is whether a distribution in redemption of 108 shares...

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