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SONNLEITNER v. C. I. R.

No. 77-1702.

598 F.2d 464 (1979)

Alois M. SONNLEITNER and Mildred A. Sonnleitner, Petitioners-Appellants, v. COMMISSIONER OF INTERNAL REVENUE, Respondent-Appellee.

United States Court of Appeals, Fifth Circuit.

July 9, 1979.

Attorney(s) appearing for the Case

Frank E. Magee, Portland, Or., for petitioners-appellants.

M. Carr Ferguson, Asst. Atty. Gen., Tax Div., Richard W. Perkins, Atty., Gilbert E. Andrews, Acting Chief, App. Section, Aaron P. Rosenfeld, Atty., Tax Div., U. S. Dept. of Justice, Washington, D. C., for respondent-appellee.

Before COLEMAN, GODBOLD and INGRAHAM, Circuit Judges.

INGRAHAM, Circuit Judge:

This appeal involves the tax treatment of certain proceeds of the sale of a business which were allocated in the purchase agreement to a covenant not to compete. Taxpayers Alois and Mildred Sonnleitner reported the proceeds as capital gains on the sale of stock.1 The Commissioner of Internal Revenue disputed the capital gains treatment of the proceeds, and the Tax Court...

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