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TURNER v. COMMISSIONER

Docket No. 82122.

20 T.C.M. 468 (1961)

T.C. Memo. 1961-101

Rufus F. Turner and Marguerite H. Turner v. Commissioner.

United States Tax Court.

Filed March 31, 1961.

Attorney(s) appearing for the Case

Fortescue W. Hopkins, Esq., and William N. Pierce, Esq., Mountain Trust Bank Bldg., Roanoke, Va., for the petitioners. Richard C. Forman, Esq., for the respondent.

Memorandum Findings of Fact and Opinion

TIETJENS, Judge:

The Commissioner determined a deficiency in petitioners' income tax for 1957 in the amount of $11,670.36. The issues presented are (1) whether there was a recognized gain upon the incorporation of a sole proprietorship; and (2) whether a bonus received in 1957 was properly reported in that year for income tax purposes.

Findings of Fact

Some of the facts have been stipulated and are...

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