This proceeding involves a deficiency of $339.02 in income tax for 1950. The issue is whether the distribution of $3,168.55 to the husband upon the discontinuance of an employees' pension trust, of which he was a member, is taxable as ordinary income or as long-term capital gain.
FINDINGS OF FACT.
The facts set forth in the stipulation of facts are so found.
The petitioners, residents of Lancaster, Pennsylvania, filed a joint return for the taxable...
Let's get started
Welcome to the leading source of independent legal reporting
Sign on now to see your case.
Or view more than 10 million decisions and orders.
- Updated daily.
- Uncompromising quality.
- Complete, Accurate, Current.