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NEWBURG v. COMMISSIONER

Docket No. 4720-62.

24 T.C.M. 248 (1965)

T.C. Memo. 1965-46

Fred Newburg and Flossie Newburg v. Commissioner.

United States Tax Court.

Filed March 4, 1965.

Attorney(s) appearing for the Case

Henry Cohen, for the petitioners. Daniel Lee Stewart, for the respondent.

Memorandum Findings of Fact and Opinion

TIETJENS, Judge:

The Commissioner determined a deficiency of $1,144.72 in petitioners' income tax for 1957. The only issue is whether the petitioner, Fred Newburg, held certain property for more than six months, so that his profit on the sale of the property is taxable as long-term capital gain under section 1231 of the Internal Revenue Code of 1954.

Findings...

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