LARE v. COMMISSIONER

Docket No. 4830-72.

62 T.C. 739 (1974)

MARCELLUS R. LARE, JR., AND LILLIAN D. LARE, PETITIONERS v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.

United States Tax Court.

Filed August 29, 1974.


Attorney(s) appearing for the Case

Frank F. Troup, I. C. Bloom, and Leonard Boreman, for the petitioners.

Joseph M. Abele, for the respondent.


DAWSON, Judge:

Respondent determined a deficiency of $39,814.73 in the petitioners' Federal income tax for the year 1968.

Respondent has made various concessions relating to income adjustments and additions to basis which affect the computation of gain from the sale of United Pocahontas Coal Co. stock. These concessions will be reflected in the Rule 155 computation. The following issues remain for our decision...

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