United States v. Bank of Clarksdale, of the Estate of Mae Suddoth Barr, Deceased

GRIFFIN B. BELL, Circuit Judge:

This appeal involves income taxes for the year 1959. The bank, in its representative capacity, paid the tax, after assessment, and sued for refund after claim for refund was denied. The District Court ruled for the taxpayer and the government appeals. 1 See Bank of Clarksdale, Executor of the Estate of Mae Suddoth Barr, Deceased, N.D.Miss., 1963, 224 F.Supp. 698.

The question presented turns on the basis to be used in computing gain realized on the sale of real property. Mr. and Mrs. Barr executed a joint will in 1932. They were residents of Mississippi. The…