Docket No. 22261-90.

64 T.C.M. 534 (1992)

T.C. Memo. 1992-471.

David D. Levy and Marjean M. Levy v. Commissioner.

United States Tax Court.

Filed August 19, 1992.

Attorney(s) appearing for the Case

Robert V. Townes III, 3518 Decatur Hwy., Gardendale, Ala., for the petitioners. Robert W. West, for the respondent.

Memorandum Findings of Fact and Opinion

SCOTT, Judge:

Respondent determined deficiencies in petitioners' Federal income taxes for the calendar years 1985 and 1986 in the amounts of $27,817 and $889, respectively. The issue for decision is whether the sale made by petitioner to Mr. Ernest Johns was the sale of a capital asset or was the sale of a computer program, an asset which is excludable from the definition...

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