JOHNS v. COMMISSIONER

Docket No. 9814-02.

85 T.C.M. 1318 (2003)

T.C. Memo. 2003-140

Charles Johns v. Commissioner.

United States Tax Court.

Filed May 19, 2003.


Attorney(s) appearing for the Case

Robert E. Salad and Joel L. Schwartz, for the petitioner.

Carol-Lynn E. Moran, for the respondent.


MEMORANDUM OPINION

RUWE, Judge:

Respondent determined a deficiency in petitioner's Federal income tax of $276,387 for 1998. The only issue for our decision is whether the amounts that petitioner received in exchange for his assignments of his rights to receive certain future annual lottery payments represent ordinary income or capital gains.

This case was submitted fully stipulated under Rule 122.1 The stipulation of...

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