- 6 -
property.3 Thus, the full gain of $30,282 nonetheless would be
required to be recognized in this situation.
Reviewed and adopted as the report of the Small Tax Case
Division.
To reflect the foregoing,
Decision will be entered
for respondent.
3The record does not reflect either (1) the cost of the
mobile home or its foundation, or (2) that the adjusted sales
price of the Pod residence, as defined in sec. 1034(b), was less
than the stipulated sales price. It is very unlikely, however,
that establishing one or both of these facts would have reduced
the $199,000 difference between the sales price and the purchase
cost to an amount less than the amount of gain, $30,282.
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Last modified: May 25, 2011