Fowler v. United States

ATWELL, District Judge.

In 1918 the plaintiffs, as man and wife, each received an income of $88,934.01, subject to taxation under the Revenue Act of that year (40 Stat. 1057); $41,572.90 each were derived from the sale of an oil property, the principal value of which was demonstrated by exploration and discovery work carried on by them. The selling price of this property was $83,-645.80. It had cost $500; $41,822.90, therefore, went to Mr. Fowler, and a like sum to Mrs. Fowler. Each was assessed and paid the sum of $28,502.81 income tax.

There is no dispute between the parties as to the amount…