DEMERY v. COMMISSIONER

Docket No. 4588-79.

42 T.C.M. 598 (1981)

T.C. Memo. 1981-412

H.P. Demery and Eunice Demery v. Commissioner.

United States Tax Court.

Filed August 10, 1981.


Attorney(s) appearing for the Case

Theodore W. Glocker, Jr., 1000 Atlantic Bank Bldg., Jacksonville, Fla., for the petitioners. Willie Fortenberry, for the respondent.


Memorandum Findings of Fact and Opinion

DRENNEN, Judge:

Respondent determined deficiencies in petitioners' income taxes for their fiscal years ending October 31, 1975, and October 31, 1976, in the amounts of $14,486.64 and $15,666.60, respectively. Due to concessions by the parties the only issue for decision is the value of a 2.86-acre parcel of land contributed by petitioners to the Jose Vedra United Methodist Church by deed dated August 28, 1975. A part...

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