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EMERSON v. COMMISSIONER

Docket No. 16100.

12 T.C. 875 (1949)

ISAAC EMERSON, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.

United States Tax Court.

Promulgated May 27, 1949.

Attorney(s) appearing for the Case

Allan E. Finseth, Esq., and Dennis D. Daly, Esq., for the petitioner.

Thomas A. Steele, Jr., Esq., for the respondent.

This proceeding involves income tax deficiencies for the taxable years ended December 31, 1945, and December 31, 1946, in the amounts of $297.84 and $215.15, respectively.

The single question presented is whether the gain realized by the petitioner in 1945 and 1946 from the sale of certain animals from his dairy and hog herds is taxable as ordinary income or as capital gain under the provisions of section 117 (j) of the Internal Revenue Code.

FINDINGS OF...

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