No. 26176.

417 F.2d 905 (1969)

UNITED STATES of America, Appellant, v. Ada Belle WINTHROP, Individually and as Executrix under the will of Guy L. Winthrop, Deceased, Appellee.

United States Court of Appeals Fifth Circuit.

October 22, 1969.

Attorney(s) appearing for the Case

Clinton N. Ashmore, U. S. Atty., Tallahassee, Fla., Mitchell Rogovin, Asst. Atty. Gen., Meyer Rothwacks, William A. Friedlander, David E. Carmack, Stanley L. Ruby, Lee A. Jackson, Attys., Tax Division, Dept. of Justice, Washington, D. C., for appellant; Stewart J. Carrouth, Asst. U. S. Atty., of counsel.

W. J. Oven, Jr., Tallahassee, Fla., for appellee.

Before JOHN R. BROWN, Chief Judge, and GEWIN and GOLDBERG, Circuit Judges.

GOLDBERG, Circuit Judge:

We must emerge with a solution to the "old, familiar, recurring, vexing and ofttimes elusive" problem described by Judge Brown in Thompson v. Commissioner of Internal Revenue, 5 Cir.1963, 322 F.2d 122, concerning capital gains versus ordinary income arising out of the sale of subdivided real estate. Finding ourselves engulfed in a fog of decisions with gossamer like distinctions, and a quagmire of unworkable...

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