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SIMONSON v. COMMISSIONER

Docket Nos. 3941-73, 3942-73.

34 T.C.M. 47 (1975)

T.C. Memo. 1975-12

Henry T. and Lois P. Simonson v. Commissioner. John B. Woodward and Verone Woodward v. Commissioner.

United States Tax Court.

Filed January 15, 1975.

Attorney(s) appearing for the Case

Louis F. Nawrot, Jr., Hoge Bldg., Seattle, Wash., Barry E. Wolf, and DeWitt Williams, for the petitioners. Robert J. Chicoine, for the respondent.

Memorandum Opinion

TANNENWALD, Judge:

Respondent determined deficiencies in the Federal income taxes of petitioners Simonson and petitioners Woodward for 1970 of $19,160.28 and $6,647.00, respectively. The issue for decision is whether petitioners must recognize gain on their transfer of stock to Mergers and Acquisitions, Inc.

All of the facts and exhibits in this case were fully stipulated and are incorporated herein by this reference.

Petitioners...

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