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BUSSE v. COMMISSIONER

Docket No. 6858-70.

58 T.C. 389 (1972)

CURTIS T. BUSSE AND MYRTLE BUSSE, PETITIONERS v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.

United States Tax Court.

Filed May 30, 1972.

Attorney(s) appearing for the Case

John S. Best and Robert A. Schnur, for the petitioners.

Robert M. Burns, for the respondent.

OPINION

FEATHERSTON, Judge:

Respondent determined a deficiency in petitioners' Federal income tax for 1967 in the amount of $1,659.47. The only issue for decision is whether a portion of the payments received by petitioners during 1967 as consideration for the sale of a patent was unstated interest within the meaning of section 483.1

All the facts have been stipulated and...

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