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BRESLER v. COMMISSIONER

Docket No. 8199-72.

65 T.C. 182 (1975)

DAVID BRESLER AND ESTATE OF SYLVIA BRESLER, DECEASED, DAVID BRESLER, EXECUTOR, PETITIONERS v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.

United States Tax Court.

Filed October 29, 1975.

Attorney(s) appearing for the Case

Sidney J. Matzner, for the petitioners.

James J. Posedel, for the respondent.

OPINION

SIMPSON, Judge:

The Commissioner determined a deficiency in the petitioners' Federal income tax for the taxable year 1967 of $15,193.96. The principal issue to be decided is whether the portion of the proceeds of a settlement allocable to damages resulting from the sale of poroperty used in a trade or business described in section 1231 of the Internal Revenue Code of 19541 is to be reported as ordinary income or...

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