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HORTON v. COMMISSIONER

Docket No. 3386-91.

100 T.C. 93 (1993)

ERNEST AND MARY C. HORTON, PETITIONERS v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT

United States Tax Court.

Filed February 9, 1993.

Attorney(s) appearing for the Case

Thomas J. Utaski and Ljubomir Nacev, for petitioners.

Roderick H. Fillinger, for respondent.

OPINION

RUWE, Judge:

Respondent determined a deficiency of $130,850 in petitioners' 1985 Federal income tax. After concessions, the only issue for decision is whether section 104(a)(2)1 allows petitioners to exclude an award of punitive damages from taxable income.

This case was submitted fully stipulated pursuant to Rule 122(a). The stipulation of facts and attached exhibits are incorporated herein by this reference...

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