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ESTATE OF CUNNINGHAM v. COMMISSIONER

Docket No. 54094.

14 T.C.M. 1144 (1955)

T.C. Memo. 1955-296

Estate of Thomas F. Cunningham, Deceased, Equitable Security Trust Company, Executor v. Commissioner.

United States Tax Court.

Filed October 31, 1955.

Attorney(s) appearing for the Case

John C. Reid, Esq., for the petitioner. Max J. Hamburger, Esq., for the respondent.

Memorandum Findings of Fact and Opinion

JOHNSON, Judge:

The Commissioner determined a deficiency in income tax of Thomas F. Cunningham, now deceased, for the year 1951 in the amount of $28,326.61.

The sole issue is whether $50,000 received by decedent, Thomas F. Cunningham, during the year 1950 from Russell D. Ketcham and Paulina D. Ketcham in connection with the sale by decedent of an interest in his business constituted ordinary income, as determined...

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