Richard L. Hutcheson and Deloris A. Hutcheson - Page 1

                                         T.C. Memo. 1996-127                                              


                                      UNITED STATES TAX COURT                                             


              RICHARD L. HUTCHESON AND DOLORES A. HUTCHESON, Petitioners v.                               
                         COMMISSIONER OF INTERNAL REVENUE, Respondent                                     


                  Docket No. 8886-94.                  Filed March 14, 1996.                              


                  Robert E. Bergin, for petitioners.                                                      
                  Ewan D. Purkiss, for respondent.                                                        


                                         MEMORANDUM OPINION                                               

                  RAUM, Judge:  The Commissioner determined a deficiency in                               
            petitioners' 1989 income tax in the amount of $809,180.  The                                  
            issues for decision are:  (1) Whether petitioners must recognize                              
            the entire gain from the sale of 100,000 shares of WalMart stock                              






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