McMahon v. State Tax Commission

Peter M. Gunnar, Judge.

This is a suit to set aside defendant’s Opinion and Order No. 1-63-45, which denied plaintiffs special treat ment of capital gains realized by plaintiff Linus T. McMahon upon his sale of a parking lot in Portland, Oregon, in the tax year 1960.

Defendant denied special capital gain treatment because it found that the parldng lot which Mr. McMahon sold was real property used in his trade or business and, therefore, ineligible for special treatment under OBS 316.408(2). Plaintiffs contend that the gain realized upon such sale was entitled to special capital gain treatment…