TAYLOR v. COMMISSIONER

Docket No. 20695-83.

53 T.C.M. 341 (1987)

T.C. Memo. 1987-133

Wilbur Taylor, Deceased, and Gladys P. Taylor v. Commissioner.

United States Tax Court.

Filed March 11, 1987.


Attorney(s) appearing for the Case

Jo Karen Parr, One Court Square, Montgomery, Ala., for the petitioner. Helen C. T. Smith, for the respondent.


Memorandum Findings of Fact and Opinion

WHITAKER, Judge:

On April 14, 1983, respondent determined a deficiency in the Federal income tax of petitioners1 for the calendar year 1979 in the amount of $15,954.77. By amended answer respondent seeks an additional deficiency in the amount of $19,221.23. After concessions, one issue to be decided is whether the sum of $34,617.53, constituting unreported income from a joint venture,

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