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ESTATE OF VANCE v. COMMISSIONER

Docket No. 78035.

19 T.C.M. 904 (1960)

T.C. Memo. 1960-167

Estate of S. E. Vance, Deceased, by Margaret Vance, Cyrus B. Vance, and William Vance, His Executors, and Margaret Vance v. Commissioner.

United States Tax Court.

Filed August 19, 1960.

Attorney(s) appearing for the Case

J. Eben Hart, Esq., Liberty Bank Building, Oklahoma City, Okla., for the petitioners. John P. Higgins, Esq., for the respondent.

Memorandum Opinion

WITHEY, Judge:

Respondent has determined a deficiency in income tax against petitioners for the taxable year 1954 in the amount of $2,963.05. The sole issue is whether the Commissioner has erred in treating as ordinary income $5,189.20 received by S. E. Vance in the year at issue as the sale price of a quantity of dirt removed from his farm property by the City of Tulsa, Oklahoma.

All the facts have been stipulated and are found...

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