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BURNS v. COMMISSIONER

Docket No. 7309-71.

33 T.C.M. 977 (1974)

T.C. Memo. 1974-220

Floyd R. Burns and Billie J. Burns v. Commissioner.

United States Tax Court.

Filed August 26, 1974.

Attorney(s) appearing for the Case

George F. Saunders, 2009 City Nat'l Bank Tower, Oklahoma City, Okla., for the petitioners. Michael J. O'Brien, for the respondent.

Memorandum Findings of Fact and Opinion

GOFFE, Judge:

The Commissioner determined a deficiency in petitioners' Federal income tax in the amount of $11,628.18 for the taxable year 1966. The sole issue presented is the valuation of 6,420 shares of stock in Community National Life Insurance Co. received by Petitioner Floyd R. Burns as compensation.

Findings of Fact

Some of the facts have been stipulated. The stipulation of facts and exhibits...

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