Cox v. United States

ORDER

WELLFORD, Circuit Judge, Sitting by Designation.

This is an action to recover federal income taxes paid by the plaintiffs for the calendar year 1976. The plaintiffs were three of four partners in a partnership which sold an apartment project in 1976. The respective spouses are made parties to this action as a result of the filing of joint tax returns. The apartment project was sold at a capital gain on an installment basis. Plaintiffs contend that their selling expenses should have been added to their basis in the property. The government contends that these expenses should be taken as a…