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WOODSON v. C. I. R.

No. 80-1657.

651 F.2d 1094 (1981)

Curtis B. WOODSON and Estate of Fern R. Woodson, etc., et al., Petitioners-Appellees, v. COMMISSIONER OF INTERNAL REVENUE, Respondent-Appellant.

United States Court of Appeals, Fifth Circuit. Unit A.

July 29, 1981.

Attorney(s) appearing for the Case

M. Carr Ferguson, Asst. Atty. Gen., Gilbert E. Andrews, Acting Chief, Appellate Section, Michael L. Paup, Gary R. Allen, David I. Pincus, Tax Div., U. S. Dept. of Justice, Washington, D. C., for respondent-appellant.

Curtis B. Woodson pro se.

Before THORNBERRY, COLEMAN and AINSWORTH, Circuit Judges.

THORNBERRY, Circuit Judge:

Section 402(a)(2) of the Internal Revenue Code of 19541 provides that, to a limited extent, a recipient of a lump sum distribution from an employee trust may treat a portion of the total taxable amount as capital gain rather than as ordinary income. The tax court held that the trust's status at the date of contribution — rather than at the date of distribution — controls eligibility for capital...

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