United States Tax Court April 27, 1970, Docket No. 4948-67 (Howard v. Commissioner)

lead-opinion

OPINION

Respondent contends that the $30,000 in cash and the two waterfront lots valued at $5,000 each received by petitioner from her former husband Vince Nelson on April 19, 1965, for signing her name to a deed constitute taxable income to her under section 61 of the 1954 Code and the correlative regulations.