HILL v. COMMISSIONER

Docket No. 1179-65.

47 T.C. 613 (1967)

JACKSON HILL AND IRENE HILL, PETITIONERS v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.

United States Tax Court.

Filed March 23, 1967.


Attorney(s) appearing for the Case

Martin Sosin, for the petitioners.

James J. Cotter, for the respondent.


SCOTT, Judge:

Respondent determined a deficiency in petitioners' income tax for the calendar year 1962 in the amount of $13,350.24.

The issue for decision is whether an amount received by one of petitioners, representing a portion of the receipts by the company by which he was employed from the sale of a television production was taxable as capital gain or ordinary income.

FINDINGS OF FACT

Some of the facts have been stipulated and...

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