MAGNESS v. COMMISSIONER

Docket No. 4096-63.

24 T.C.M. 1413 (1965)

T.C. Memo. 1965-260

Laurance F. Magness, Jr., and Dolores M. Magness v. Commissioner.

United States Tax Court.

Filed September 30, 1965.


Attorney(s) appearing for the Case

Laurance F. Magness, Jr., pro se, Freeland, Baltimore, Md., Francis O. McDermott, for the respondent.


Memorandum Findings of Fact and Opinion

ATKINS, Judge:

The respondent determined a deficiency in income tax for the taxable year 1960 in the amount of $575.98.

The parties having reached agreement as to two of the issues raised by the pleadings, the only issue remaining for decision is whether, in computing petitioners' gain or loss on the sale of stock received by gift, the respondent used the proper basis.

Findings of Fact

Some...

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