Glynn Land Co. v. United States

ORDER

ALAIMO, Chief Judge.

Taxpayer Glynn Land Company (“Glynn”) seeks a refund of taxes allegedly overpaid the United States as a result of the mischaracterization of certain income to Glynn as ordinary income rather than capital gain. The dispute requires the Court to construe § 631(b) of the Internal Revenue Code, 26 U.S.C. § 631(b) (1982), which provides capital gain treatment under certain circumstances for profit from the sale of timber. The parties have cross-moved for summary judgment. Having considered the parties’ briefs and had the benefit of oral argument on the motions, the Court…