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LAMONTIA v. COMMISSIONER

Docket No. 51456.

15 T.C.M. 744 (1956)

T.C. Memo. 1956-149

Anthony Lamontia and Angeline Lamontia v. Commissioner.

United States Tax Court.

Filed June 28, 1956.

Attorney(s) appearing for the Case

Martin A. Rini, Esq., Bulkley Building, Cleveland, Ohio, for the petitioners. Donald G. Corley, Esq., for the respondent.

Memorandum Findings of Fact and Opinion.

BRUCE, Judge:

Respondent determined a deficiency of $1,251.70 in petitioners' income tax for 1949. The two questions for decision are (1) whether the gain from the sale of seven parcels of real estate resulted in ordinary income to the petitioners, and (2) whether petitioners realized capital gain from the sale of furniture and fixtures used by them in their business...

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