The Commissioner determined a deficiency in the income tax of the petitioner for the year 1948 in the amount of $26,773.79. Petitioner claims an overpayment in the amount of $11,277.22. The sole issue is whether the full amount of $122,333.33 received by petitioner in 1948 under a contract for the performance of services for Metro-Goldwyn-Mayer Pictures constituted gross income to him in that year or whether a portion of that amount, namely $38,034.49, must be excluded from...
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