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PETTIT v. COMMISSIONER

Docket No. 2518-71.

61 T.C. 634 (1974)

KARL D. PETTIT AND ESTELLE F. PETTIT, PETITIONERS v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.

United States Tax Court.

Filed February 7, 1974.

Attorney(s) appearing for the Case

G. Thomas Reynolds, Jr., for the petitioners.

Howard W. Gordon, for the respondent.

GOFFE, Judge:

Respondent determined a deficiency in the petitioner's Federal income tax for the year 1967 in the amount of $7,482.12. The only issue presented for our decision is whether the transfer of 2.75 acres by petitioners to the township of Princeton, N.J., for roadway purposes constituted a deductible charitable contribution under section 170, I.R.C. 1954.1 The value of the land conveyed is not in dispute.

FINDINGS...

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