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CAPLAN v. COMMISSIONER

Docket No. 51108.

16 T.C.M. 273 (1957)

T.C. Memo. 1957-63

Salem D. and Sophie Caplan v. Commissioner.

United States Tax Court.

Filed April 11, 1957.

Attorney(s) appearing for the Case

Carman E. Kipp, Esq., for the petitioners. John R. Gauntt, Esq., for the respondent.

Memorandum Findings of Fact and Opinion

The respondent determined a deficiency in income tax of petitioners for the calendar year 1950 in the amount of $968.96.

The sole issue is whether the sum of $9,200 received by petitioners in 1950 from Arthur Caplan and Associates should be taxed as ordinary income or as long-term capital gain.

Findings of Fact

Petitioners are husband and wife who, in 1950, resided in Salt Lake City, Utah. Their joint...

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