ESTATE OF COLLEY v. COMMISSIONER

Docket Nos. 3838-77, 9020-78.

40 T.C.M. 81 (1980)

T.C. Memo. 1980-107

Estate of Woodrow Colley, Deceased, Gladys Colley, Independent Executrix, Gladys Colley, Woodrow Colley Lumber Co., Inc., and Colley Wholesale Lumber Co., Inc. v. Commissioner. Estate of Woodrow Colley, Deceased, Gladys Colley, Executrix, Petitioner v. Commissioner of Internal Revenue, Respondent.

United States Tax Court.

Filed April 2, 1980.


Attorney(s) appearing for the Case

John L. Bates, 701 Washington, Waco, Tex., for the petitioners. Gary A. Benford and Frank C. Hider, Jr., for the respondent.


Memorandum Findings of Fact and Opinion

DAWSON, Judge:

In these consolidated cases respondent determined the following deficiencies in petitioners' Federal income taxes in Docket No. 3838-77:

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                  Petitioners                   Taxable Years Ended      Deficiency
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