Margaret v. Dettmers, Estate of Herrick L. Johnston, Deceased, and Margaret v. Dettmers, Individually v. Commissioner of Internal Revenue

JOHN W. PECK, Circuit Judge.

This is an appeal from a decision of the Tax Court 1 upholding the Commissioner’s deficiency determination with respect to taxpayer’s income taxes on certain capital gains which arose out of the involuntary conversion of real property in 1957 2 .

Taxpayer purchased a parcel of real estate in Columbus, Ohio, in August 1955. In May 1957, the property was conveyed to the State of Ohio by negotiated sale under threat of condemnation, and a net gain of approximately $182,-000 was realized by taxpayer. Taxpayer subsequently entered into negotiations for the purchase of…