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LASITER v. COMMISSIONER

Docket No. 1276-63.

24 T.C.M. 52 (1965)

T.C. Memo. 1965-12

Charles R. Lasiter and Mary M. Lasiter v. Commissioner.

United States Tax Court.

Filed January 27, 1965.

Attorney(s) appearing for the Case

Eli Blumenfeld, for the respondent.

Memorandum Opinion

SCOTT, Judge:

Respondent determined a deficiency in petitioners' income tax for the calendar year 1960 in the amount of $666.20. The issue for decision is whether real property rented by petitioners qualifies for additional depreciation of 20 percent of its cost in the year of acquisition under the provisions of section 179(a) of the Internal Revenue Code of 1954.1

All of the facts have been stipulated...

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