Grace Kern v. Ralph C. Granquist, District Director of Internal Revenue of the United States for the District of Oregon

BARNES, Circuit Judge.

This is an appeal from a judgment of the United States District Court for the District of Oregon, refusing to grant taxpayer an income tax refund for the year 1953. Jurisdiction below rested on 28 U.S.C. § 1346. This court has jurisdiction on the appeal. 28 U.S.C. § 1291.

The sole issue before us is the amount of gain realized by appellant upon the sale of her residence on July 27, 1953, for the sum of $325,000. She entered into a written cost-plus contract to construct a new residence on April 1, 1954. The eighteen months period which is here of importance expired…