T.C. Memo. 1997-10
UNITED STATES TAX COURT
MARSHALL I. GORDON, Petitioner v.
COMMISSIONER OF INTERNAL REVENUE, Respondent
Docket No. 4489-94. Filed January 7, 1997.
Nathan M. Sutton, Janice S. Martin, Lyle D. Pishny, for
petitioner.
Charles M. Berlau, for respondent.
MEMORANDUM OPINION
RAUM, Judge: The Commissioner determined a $243,216
deficiency in petitioner's 1988 Federal income tax and a $60,804
section 6661(a) addition to tax for substantial understatement.
The issues are: (1) Whether petitioner (petitioner or Marshall)
realized capital gain on the transfer of a 22.5-percent interest
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