McCoy v. Commissioner

Lawrence W. McCoy and Ilo P. McCoy, Petitioners, v. Commissioner of Internal Revenue, Respondent

McCoy v. Commissioner

Docket No. 83102

United States Tax Court

38 T.C. 841; 1962 U.S. Tax Ct. LEXIS 80;

September 13, 1962, Filed

Decision will be entered under Rule 50.

The fair market value of an automobile received by the petitioner from his employer as an award in a sales contest determined.

William L. Taylor, Jr., Esq., for the petitioners.

Robert L. Ackerson, Esq., for the respondent.

Atkins, Judge.

ATKINS

The respondent determined a deficiency in income tax in the amount of $ 221.69 for the taxable…