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LAWRIE v. COMMISSIONER

Docket No. 85174.

36 T.C. 1117 (1961)

DONALD J. LAWRIE AND BARBARA M. LAWRIE, PETITIONERS, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.

United States Tax Court.

Filed September 21, 1961.

Attorney(s) appearing for the Case

Frederick C. Kracke, Esq., for the petitioners.

Joseph D. Holmes, Jr., Esq., for the respondent.

Respondent determined a deficiency in the income tax of petitioners in the amount of $4,640.49 for the year 1955.

The sole issue is whether certain real estate sold by petitioners in 1955 was held primarily for sale to customers in the ordinary course of business.

FINDINGS OF FACT.

Some of the facts have been stipulated, and, as stipulated, they are incorporated herein by reference.

Petitioners,...

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