DRUNEN v. COMMISSIONER

Docket No. 993-62.

23 T.C.M. 903 (1964)

T.C. Memo. 1964-151

Jacob L. Van Drunen and Grace L. Van Drunen v. Commissioner.

United States Tax Court.

Filed June 1, 1964.


Attorney(s) appearing for the Case

Thomas J. Donnelly, Jr., 756 N. Milwaukee St., Milwaukee, Wis., for the petitioners. Joseph T. de Nicola, for the respondent.


Memorandum Findings of Fact and Opinion

DAWSON, Judge:

Respondent determined a deficiency in the income tax of petitioners for the year 1959 in the amount of $14,307.53. The only issue for decision is whether petitioner Jacob L. Van Drunen, a physician, realized ordinary income or long-term capital gain from the sale of certain lots during the taxable year 1959.

Findings of Fact

Some of the facts were stipulated by the parties. The stipulation...

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