Case Name: Fannie W. Johnson, Petitioner, v. Commissioner of Internal Revenue, Respondent
Court: United States Board of Tax Appeals
Jurisdiction: United States
Decision Date: 1927-09-19
Citations: 8 B.T.A. 108
Docket Number: Docket No. 15301
Parties: Fannie W. Johnson, Petitioner, v. Commissioner of Internal Revenue, Respondent.
Judges: Considered by Steenhagen and AhtjNdell.
Reporter: Reports of the United States Board of Tax Appeals
Volume: 8
Pages: 108–112

Head Matter:
Fannie W. Johnson, Petitioner, v. Commissioner of Internal Revenue, Respondent.
Docket No. 15301.
Promulgated September 19, 1927.
Value of plantation at March 1, 1913, determined.
L. L. Hamby, Esq., G. W. Dudley, Esq., and M. O. Garter, G. P. A., for the petitioner.
W. F. Gibbs, Esq., W. H. Lawder, Esq., and Brice Toole, Esq., for the respondent.

Opinion:
OPINION.
Lansdon:
The plantation here in question was sold early in the year 1919 for a total consideration of $1,211,370.97. The respondent asserts that a substantial profit, based on the fair market value or price of the property at March 1, 1913, was realized. The only question before us is the fair market value or price of the property at the basic date. Each party called numerous witnesses, and the evidence is the voluminous opinion and expert testimony of such witnesses. After careful study and analysis of the entire record of the proceeding, we have determined the values of the various categories of which the property consisted at March 1, 1913, as set forth supra in our findings of fact.
Judgment will be entered on 15 days' notice, under Rule 50.
Considered by Steenhagen and AhtjNdell.