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LOFSTROM v. COMMISSIONER

Docket No. 4667-03.

125 T.C. 271 (2005)

125 T.C. No. 13

DENNIS E. AND PAULA W. LOFSTROM, PETITIONERS v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.

United States Tax Court.

Filed November 22, 2005.

Attorney(s) appearing for the Case

Steven Z. Kaplan, for petitioners.

Melissa J. Hedtke, for respondent.

OPINION

KROUPA, Judge:

Respondent determined a $10,552 deficiency in petitioners' Federal income tax for 1997 and a $2,198 deficiency for 1998. After concessions,1 the issues for decision are:

(1) Whether petitioners may claim an alimony deduction for $29,000 in 1997 for the transfer of a contract for deed. Because we find the contract for deed does not constitute cash or a cash equivalent, we hold that they may...

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