The respondent determined deficiencies in income tax against the petitioners of $6,478.85 for the year 1958 and $11,069.33 for the year 1959. The questions are whether the gain realized on the sale of certain lots was capital gain, or ordinary income, and what was the basis of the lots sold.
Some of the facts have been stipulated and are found as stipulated.
The petitioners are husband and...
Let's get started
Welcome to the leading source of independent legal reporting
Sign on now to see your case.
Or view more than 10 million decisions and orders.
- Updated daily.
- Uncompromising quality.
- Complete, Accurate, Current.
