LUCAS v. COMMISSIONER

Docket No. 6691-70.

58 T.C. 1022 (1972)

GLENN W. LUCAS, JR., AND CARLENE LUCAS, PETITIONERS v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.

United States Tax Court.

Filed September 26, 1972.


Attorney(s) appearing for the Case

James G. Leathers, Jr., for the petitioners.

Harry M. Asch and William E. Saul, for the respondent.


The Commissioner determined deficiencies in petitioners' income tax as follows:

    Year                               Deficiency

    1965 --------------------------    $1,249.89
    1966 --------------------------     1,551.00
    1967 --------------------------     1,646.00

The sole issue for decision is whether part of the purchase price paid by petitioner Glenn W. Lucas, in connection with the acquisition of an accounting practice...

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