Terry D. Smith - Page 1

                                 T.C. Memo. 1997-109                                  

                               UNITED STATES TAX COURT                                

                            TERRY D. SMITH, Petitioner v.                             
                    COMMISSIONER OF INTERNAL REVENUE, Respondent                      

             Docket No. 843-95.                      Filed March 3, 1997.             

             Richard E. Marsh, Jr., for petitioner.                                   
             James E. Gray and Paul G. Topolka, for respondent.                       

                       MEMORANDUM FINDINGS OF FACT AND OPINION                        

             COLVIN, Judge:  Respondent determined a deficiency of $33,242            
          in petitioner's Federal income tax for 1990.                                
             The issue for decision is whether petitioner may defer                   
          recognition of gain realized on the sale of two properties                  
          pursuant to section 1031(a).  We hold that he may not because he            

Page:   1  2  3  4  5  6  7  8  9  10  11  Next

Last modified: May 25, 2011