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DESKINS v. COMMISSIONER

Docket No. 4302-84.

87 T.C. 305 (1986)

HAZEL DESKINS, PETITIONER v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT

United States Tax Court.

Filed August 11, 1986.

Attorney(s) appearing for the Case

John G. Rocovich, Jr., Joseph L. Anthony, and John T. Arnold, for the petitioner.

Edwina L. Wilson, for the respondent.

PARKER, Judge:

Respondent determined a deficiency in petitioner's 1980 Federal income taxes in the amount of $54,469.32. The issues for decision are (1) whether under the contract petitioner retained an economic interest in the coal so that payments she receives for the disposition of the coal qualify for capital gain treatment under sections 631(c)1 and 1231(b)(2), and (2) if section 631(c) does not apply, whether the payments...

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