Carl J. Fabry v. Commissioner of Internal Revenue

Carl J. FABRY, Patricia P. Fabry, Petitioners, v. COMMISSIONER OF INTERNAL REVENUE, Respondent. No. 99-12407. United States Court of Appeals, Eleventh Circuit. Aug. 21, 2000. Appeal from a Decision of the United States Tax Court. (No. 96-09126). Before DUBINA, BLACK and HILL, Circuit Judges. HILL, Circuit Judge: This tax case presents a single issue: are damages to business reputation received in the amount of $500,000 by taxpayers in 19921 in settlement of their tort action for strict liability and negligence against the manufacturer of an allegedly defective product properly excludable from…