Case Name: Appeal of MRS. C. B. STATON
Court: United States Board of Tax Appeals
Jurisdiction: United States
Decision Date: 1925-05-23
Citations: 1 B.T.A. 1222
Docket Number: Docket No. 1934
Parties: Appeal of MRS. C. B. STATON.
Judges: Before MaRqttette and MoeRis.
Reporter: Reports of the United States Board of Tax Appeals
Volume: 1
Pages: 1222–1223

Head Matter:
Appeal of MRS. C. B. STATON.
Docket No. 1934.
Submitted April 15, 1925;
decided May 23, 1925.
Harry O. Weeks, Esq., for the taxpayer.
Robert A. Littleton, Esq., for the Commissioner.
Before MaRqttette and MoeRis.

Opinion:
OPINION.
Morris :
It is not clear from the evidence whether the cash consideration recited in the deed was paid to the taxpayer and she purchased Johnson's property or whether Kemp paid Johnson directly resulting in an exchange between the taxpayer and Johnson. If it was a sale by the taxpayer there can be no question of the gain derived therefrom; if an exchange, it is our opinion that the cash consideration of $30,000 involved in the transaction clearly establishes the fair market value of the property received by the taxpayer at that amount.