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ESTATE OF HOWELL v. COMMISSIONER

Docket Nos. 109146, 109147.

1 T.C.M. 918 (1943)

Estate of J. H. Howell, Deceased, Katie M. Howell, Executrix, v. Commissioner. Katie M. Howell v. Commissioner.

United States Tax Court.

Entered April 21, 1943.

Attorney(s) appearing for the Case

Robert Ash, Esq., Munsey Bldg., Washington, D. C., and C. C. Parfet, C. P. A., Waggoner Bldg., Wichita Falls, Tex., for the petitioners. D. D. Smith, Esq., for the respondent.

Memorandum Findings of Fact and Opinion

HILL, Judge:

These are consolidated proceedings for the redetermination of deficiencies in income tax for the year 1939 in the amount of $9,710.19 and $9,710.18, respectively. The issue is whether the gain realized from the sale in 1939 of a community interest in an oil and gas lease constituted long-term capital gain, as reported by petitioners, or short-term capital gain, as determined by respondent.

Findings...

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