United States Tax Court August 22, 1966, Docket No. 747-65 (Edmister v. Commissioner)

lead-opinion

DREnnen, Judge:

Respondent determined a deficiency in petitioners’ income tax for the year 1961 in the amount of $18,056.58. The only issue remaining for decision is whether property received by petitioners in 1961 was a distribution essentially equivalent to a dividend.

FINDINGS OP PACT

Some of the facts have been stipulated, and are found accordingly.

Petitioners William K.