ELMENDORF v. COMMISSIONER

Docket No. 8118-80.

43 T.C.M. 466 (1982)

T.C. Memo. 1982-57

Armin Elmendorf and Laura G. Elmendorf v. Commissioner.

United States Tax Court.

Filed February 9, 1982.


Attorney(s) appearing for the Case

Norman H. Glickman, 755 Page Mill Road, Palo Alto, Calif., for the petitioners. Charlotte Mitchell, for the respondent.


Memorandum Opinion

FAY, Judge:

Respondent determined deficiencies of $1,689 and $8,066 in petitioners' Federal income tax for 1975 and 1976, respectively. The only issue is whether certain foreign source capital gain recognized by petitioners gives rise to an item of tax preference for purposes of computing the minimum tax imposed by section 56.1

All the facts have been stipulated...

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