No. 18296.

315 F.2d 141 (1963)

Thomas R. YANDELL and Dorothy S. Yandell, husband and wife, Appellants, v. UNITED STATES of America, Appellee.

United States Court of Appeals Ninth Circuit.

March 19, 1963.

Attorney(s) appearing for the Case

Hutchinson, Schwab & Burdick, Dwight L. Schwab and Denton G. Burdick, Jr., Portland, Or., for appellants.

Louis F. Oberdorfer, Asst. Atty. Gen., Lee A. Jackson, Harry Baum, William A. Friedlander and C. Moxley Featherston, Attys., Dept. of Justice, Washington, D. C., Sidney I. Lezak, U. S. Atty., Portland, Or., for appellee.

Before POPE, HAMLEY and MERRILL, Circuit Judges


Appellants brought this action in the court below seeking recovery and refund of individual income taxes for the calendar year 1958. A deficiency had been determined based upon the claim of the Commissioner of Internal Revenue that a certain sum of $15,000, agreed to be paid under a contract accomplishing dissolution of a partnership, should be taxed as ordinary income, whereas the taxpayers had reported the same as capital gains.

Yandell and Clarke...

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