United States Board of Tax Appeals April 3, 1928, Docket No. 14034. (Ulferts v. Commissioner)

lead-opinion

Littleton :

The Commissioner determined a deficiency of $437.24 for the calendar year 1920. Petitioner claims that the Commissioner erred in including in taxable income any amount on account of a second and third mortgage received by petitioner upon the sale in 1920 of two tracts of land.

FINDINGS OF FACT.

Petitioner is a resident of Clara City, Minn.