OSROW v. COMMISSIONER

Docket Nos. 160-66, 185-66.

49 T.C. 333 (1968)

LEONARD OSROW AND GLADYS OSROW, PETITIONERS v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT. HAROLD OSROW AND FRANCES OSROW, PETITIONERS v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.

United States Tax Court.

Filed January 11, 1968.


Attorney(s) appearing for the Case

Carl F. Bauersfeld, for the petitioners.

John B. Murray, Jr., for the respondent.


SIMPSON, Judge:

The respondent determined deficiencies in the income tax of Leonard Osrow and Gladys Osrow of $7,388.47 for the year 1961 and in the income tax of Harold Osrow and Frances Osrow of $7,199 for the year 1961. There are two issues for decision. The first issue involves a determination of the petitioners' basis in stock that they sold in 1961. The second issue is whether the petitioners realized dividend...

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