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MURRAY v. COMMISSIONER

Docket No. 44922.

14 T.C.M. 1100 (1955)

T.C. Memo. 1955-283

Cicero I. Murray and Olive B. Murray v. Commissioner.

United States Tax Court.

Filed October 21, 1955.

Attorney(s) appearing for the Case

Chas. E. Brace, Esq., 715 Colcord Building, Oklahoma City, Okla., for the petitioners. T. W. Sommer, Esq., for the respondent.

Memorandum Findings of Fact and Opinion

TIETJENS, Judge:

The Commissioner determined deficiencies in income taxes in the amounts of $2,167.14 for 1948 and $504.94 for 1949.

The only question for determination is whether the gains from the sale of certain subdivided real estate are taxable as ordinary income as determined by the Commissioner or as capital gains as claimed by the petitioners.

[Findings of Fact]

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