GROW v. COMMISSIONER

Docket Nos. 1972-82, 1973-82.

47 T.C.M. 1057 (1984)

T.C. Memo. 1984-64

Pauline R. Grow v. Commissioner. John Grow and Arunee Grow v. Commissioner.

United States Tax Court.

Filed February 8, 1984.


Attorney(s) appearing for the Case

Richard D. Hughes and Paul J. Corsaro, for the petitioners. Reid M. Huey, for the respondent.


Memorandum Findings of Fact and Opinion

COHEN, Judge:

Respondent determined deficiencies of $91,826.58 in Petitioner Pauline R. Grow's 1978 Federal income taxes and of $1,507 in Petitioners John Grow and Arunee Grow's 1978 Federal income taxes. After concessions by petitioners, the issue remaining for decision in these consolidated cases is how much of the purchase price received by petitioners' wholly-owned subchapter S corporation from the sale of some...

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