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BYRAM v. UNITED STATES

No. 81-1582.

705 F.2d 1418 (1983)

John D. and Sally A. BYRAM, Plaintiffs-Appellees Cross-Appellants, v. UNITED STATES of America, Defendant-Appellant Cross-Appellee.

United States Court of Appeals, Fifth Circuit.

May 31, 1983.

Attorney(s) appearing for the Case

Robert D. Martinez, Atty., Tax Div., Dept. of Justice, Dallas, Tex., Edward C. Prado, U.S. Atty., Hugh P. Shovlin, Asst. U.S. Atty., San Antonio, Tex., Glenn L. Archer, Jr., Asst. Atty. Gen., Michael L. Paup, Chief, Appellate Section, Richard Farber, Frank P. Cihlar, Gary R. Allen, Attys., Tax Div., Dept. of Justice, Washington, D.C., for the U.S.

Clark, Thomas, Winters & Shapiro, Michael L. Cook, Donald L. Reese, Austin, Tex., for John D. and Sally Byram.

Before WISDOM, GEE and REAVLEY, Circuit Judges.

GEE, Circuit Judge:

"If a client asks you in any but an extreme case whether, in your opinion, his sale will result in capital gain, your answer should probably be, `I don't know, and no one else in town can tell you.'"1

Sadly, the above wry comment on federal taxation of real estate transfers has, in the twenty-five years or so since it was penned, passed from the status of half-serious aside to that of hackneyed truism...

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