Robertson v. Commissioner

Board of Tax Appeals

Robertson v. Commissioner

5 B.T.A. 748, 1926 BTA LEXIS 2794

United States Board of Tax Appeals·Decided December 8, 1926·No. Docket No. 5436.·Published·Cited by 1 cases

Opinion

[749]*749OPINION.

Trammell:

From a consideration of the evidence, we are of the opinion that the difference of $8,000 between the amount paid by the petitioner for the 80 acres of land and the fair market value of the [750]*750land represents a gift. The gain on the sale, therefore, should be based on the fair market value of the land when acquired by the petitioner, instead of on the cost.

Judgment will be entered for the petitioner.

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[749]*749OPINION.

Trammell:

From a consideration of the evidence, we are of the opinion that the difference of $8,000 between the amount paid by the petitioner for the 80 acres of land and the fair market value of the [750]*750land represents a gift. The gain on the sale, therefore, should be based on the fair market value of the land when acquired by the petitioner, instead of on the cost.

Judgment will be entered for the petitioner.

Robertson v. Commissioner, 5 B.T.A. 748, 1926 BTA LEXIS 2794 (bta 1926).

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Opinion

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