McCoy v. Commissioner
United States Tax Court
The fair market value of an automobile received by the petitioner from his employer as an award in a sales contest determined.
1Opinion of the Court
Atkins, Judge:
The respondent determined a deficiency in income tax in the amount of $221.69 for the taxable year 1956. The only issue for decision is the fair market value of an automobile received by the petitioner as a prize.
FINDING OF FACTS.
Some of the facts have been stipulated and are incorporated herein by this reference.
Petitioners are husband and wife residing in Nashville, Tennessee. They filed a joint income tax return for the taxable year 1956 with the district director of internal revenue, Nashville, Tennessee. Lawrence W. McCoy will hereinafter be referred to as the petitioner.
Dur…
2Cases cited1 opinion
- Cohan v. Commissioner of Internal RevenueCourt of Appeals for the Second Circuit · 1930
3Cited by7 opinions
- McDonald v. CommissionerUnited States Tax Court · 1976
- Lynch v. CommissionerUnited States Tax Court · 1983
- Hilton v. CommissionerUnited States Tax Court · 1990
- Macri Corp. v. CommissionerUnited States Tax Court · 1976
- McCoy v. CommissionerUnited States Tax Court · 1962
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