United States Board of Tax Appeals August 13, 1935, Docket No. 52316. (Goforth v. Commissioner)

lead-opinion

*1212OPINION.

TRAmmell:

The principal issue in this proceeding relates to the proper method of computing the profit derived by petitioners in 1928 from the sale to Morrison of an undivided 30-acre interest in the mineral rights in their land. Petitioners contend that the taxable gain derived by them was $24,399.