United States Board of Tax Appeals February 2, 1927, Docket No. 11650. (Hall v. Commissioner)

lead-opinion

Phillips:

Petitioner appeals from the determination by the respondent of a deficiency of $2,516.31 in income tax for 1920, arising from the computation of a gain from the sale of certain real estate.

*16FINDINGS OF FACT.

In 1920 the petitioner sold 8 twenty-foot lots on Eastern Parkway, Brooklyn, N. Y., for $38,025. On March 1, 1913, the fair market value of such lots was $35,000.