T.C. Memo. 2003-140 UNITED STATES TAX COURT CHARLES JOHNS, Petitioner v. COMMISSIONER OF INTERNAL REVENUE, Respondent Docket No. 9814-02. Filed May 19, 2003. Robert E. Salad and Joel L. Schwartz, for petitioner. Carol-Lynn E. Moran, for respondent. MEMORANDUM OPINION RUWE, Judge: Respondent determined a deficiency in petitioner’s Federal income tax of $276,387 for 1998. The only issue for our decision is whether the amounts that petitioner received in exchange for his assignments of his rights to receive certain future annual lottery payments represent ordinary income or capital gains.Page: 1 2 3 4 Next
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