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HIGHTOWER v. COMMISSIONER

Docket No. 2042-70.

31 T.C.M. 1250 (1972)

T.C. Memo. 1972-252

Earl Hightower and Patricia Hightower v. Commissioner.

United States Tax Court.

Filed December 26, 1972.

Attorney(s) appearing for the Case

Earl Hightower, pro se, 445 S. Figueroa St., Los Angeles, Calif. Marion Malone, for the respondent.

Memorandum Findings of Fact and Opinion

SCOTT, Judge:

Respondent determined deficiencies in petitioners' Federal income taxes in the amounts of $2,410.43 and $5,128.28 for the calendar years 1966 and 1967, respectively.

The issue for decision is the fair market value of a 5 percent working interest in certain oil and gas leases donated by petitioners to a tax exempt, educational institution.

Findings of Fact

Some of the facts have...

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