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Lattera v. Commissioner, supra; Clopton v. Commissioner, supra;
Simpson v. Commissioner, supra; Johns v. Commissioner, supra;
Boehme v. Commissioner, supra. Given the similarity of facts, it
would serve no purpose in repeating the analysis provided in
Davis v. Commissioner, supra. See also Sec. State Bank v.
Commissioner, 111 T.C. 210, 213-214 (1998)(“The doctrine of stare
decisis generally requires that we follow the holding of a
previously decided case, absent special justification.”), affd.
214 F.3d 1254 (10th Cir. 2000).
Pursuant to Davis v. Commissioner, supra, and its progeny,
we hold that the $2,614,744 received by petitioner from Stone
Street in exchange for petitioner’s right to receive one-half of
the remaining lottery installment payments is ordinary income and
not capital gain.
4(...continued)
from the United States Government or any agency
thereof, other than by purchase at the price at which
it is offered for sale to the public, and which is held
by--
(A) a taxpayer who so received such
publication, or
(B) a taxpayer in whose hands the basis of
such publication is determined, for purposes of
determining gain from a sale or exchange, in whole
or in part by reference to the basis of such
publication in the hands of a taxpayer described
in subparagraph (A).
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