NIELSEN v. COMMISSIONER

Docket No. 1435-98.

114 T.C. 159 (2000)

KAREN Y. NIELSEN, PETITIONER v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT

United States Tax Court.

Filed March 8, 2000.


Attorney(s) appearing for the Case

Richard Hopewell, for petitioner.

Albert B. Kerkhove, for respondent.


OPINION

NIMS, Judge:

Respondent determined a Federal income tax deficiency for petitioner's 1992 taxable year in the amount of $7,022. The sole issue for decision is whether proceeds received by petitioner from the condemnation of her residence are subject to taxation as capital gain to the extent that they exceeded her basis in the property.

Unless otherwise indicated, all section references are...

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