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brief, respondent's computations of the amount of gain.14
Instead, they argue that the stocks were purchased with funds of
Mr. Doxtator's mother, Melinda Doxtator, on her behalf.
Therefore, petitioners contend, the gain on the sale of the
stocks is not taxable to them.
While the evidence establishes that Melinda Doxtator
transferred $5,000 to Mr. Doxtator in 1999, in the form of her
check made payable to him that cleared her account on February 8,
1999, we nonetheless conclude on the basis of the entire record
that petitioners have not shown that the stocks generating the
gains at issue were the property of Melinda Doxtator rather than
Mrs. Doxtator.
Petitioners' claims that these gains were Melinda Doxtator's
rather than petitioners' are inconsistent and confused. First,
Mr. Doxtator testified at trial that the stocks generating the
gains at issue were purchased with $2,000 of petitioners' money
14 The stipulated exhibits contain a worksheet that
petitioners prepared covering their 1999 stock transactions.
This worksheet indicates that petitioners' gain on the sale of
the stocks at issue was $919 (versus respondent’s determination
of $1,000 in short-term, and $146 in long-term, capital gain).
However, the worksheet indicates that the gain on the sale of
Mrs. Doxtator's Jevic Transportation, Inc. stock was $87.50,
without disclosing Mrs. Doxtator's basis in, or holding period
for, that stock. There is no evidence of the basis or holding
period anywhere else in the record. Accordingly, we are not
persuaded that petitioners' worksheet demonstrates any error in
respondent's determination. Moreover, nowhere in their testimony
or brief do petitioners contend that the worksheet proves error
in respondent's determination. Their only argument (considered
above) is that the stocks, and therefore the gains from the
stocks, belonged to Mr. Doxtator's mother.
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