1. Home
  2. Browse Decisions
  3. T.C.
  4. 55 T.C.
  5. 55 T.C. 53 (1970)
 

HOLMES v. COMMISSIONER

Docket No. 677-70SC.

55 T.C. 53 (1970)

CARL F. HOLMES AND KATHLEEN E. HOLMES, PETITIONERS v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT

United States Tax Court.

Filed October 19, 1970.

Attorney(s) appearing for the Case

Carl F. Holmes, pro se.

Robert D. Forrester and Jeffrey E. Boly, for the respondent.

DRENNEN, Judge:

Respondent determined a deficiency of $693.89 in petitioner's Federal income tax for the taxable year 1966.

Due to concessions by petitioners, the only issue for our decision is whether a promissory note of a third party received by petitioners in partial payment for the sale of real property is an "indebtedness of the purchaser" within the meaning of section 453 (b) (2), I.R.C. 1954.1

FINDINGS OF...

Let's get started

Leagle.com

Welcome to the leading source of independent legal reporting
Sign on now to see your case.
Or view more than 10 million decisions and orders.

  • Updated daily.
  • Uncompromising quality.
  • Complete, Accurate, Current.

Listed below are the cases that are cited in this Featured Case. Click the citation to see the full text of the cited case. Citations are also linked in the body of the Featured Case.

Cited Cases

  • No Cases Found

Listed below are those cases in which this Featured Case is cited. Click on the case name to see the full text of the citing case.

Citing Cases