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HUDSON v. COMMISSIONER

Docket No. 10665-76.

77 T.C. 468 (1981)

H. LYLE HUDSON AND MAXINE HUDSON, PETITIONERS v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT

United States Tax Court.

Filed August 20, 1981.

Attorney(s) appearing for the Case

C. Don Weston, for the petitioners.

Tom P. Quinn, for the respondent.

OPINION

WILBUR, Judge:

Respondent determined a deficiency of $1,057.80 in petitioners' 19731 Federal income taxes. The issues presented for our decision are:

(1) Whether sales tax may be included in the basis of new section 382 property in computing the investment tax credit, and

(2) Whether the trade-in allowance or the adjusted basis of property traded in is utilized in determining...

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