Charles Johns - Page 1

                                 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.                                                           

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