LeCroy v. Commissioner

OPINION.

Black, Judge:

Petitioner contends that the respective amounts of $1,452.66 and $5,325.91 reported by his wife as taxable gain in the years 1842 and 1943 are not includible in his income for these years. He maintains that he entered into an agreement with his wife whereby she made an absolute transfer of her dower rights in his property in consideration of his agreement to pay her, or cause the purchaser to pay to her, one third of the net profits of sales of all real property, or rights or interests in any lands owned by him; that in 1942, when she executed the deed to the timber…