Case: Appeal of W. B. PACKMAN
Abbreviation: Appeal of Packman
Decision Date: 1925-09-08
Docket Number: Docket No. 734
Citation: 2 B.T.A. 508
Volume: 2
Reporter: Reports of the United States Board of Tax Appeals
Court: United States Board of Tax Appeals
Jurisdiction: United States
Parties: Appeal of W. B. PACKMAN.
Judges: Before Graupner, Trammell, and Phillips.
Pages: 508–509

Head Matter:
Appeal of W. B. PACKMAN.
Docket No. 734.
Submitted July 15, 1925.
Decided September 8, 1925.
W. B. Packman, pro se.
John D. Foley, Esq., for the Commissioner.
Before Graupner, Trammell, and Phillips.

Opinion:
OPINION.
Phillips:
Taxpayer alleges that the Commissioner committed error in fixing the value of the real estate mortgages and the note received by the taxpayer upon these sales at their face value, and in determining the profit accordingly, but at the hearing no •competent evidence of the fair market value of these mortgages or the note was offered.
Taxpayer also claimed that the money to finance these transactions was furnished by his wife's father upon the understanding that one-half of the profit should be the property of Mrs. Packman. The testimony, however, is insufficient satisfactorily to establish such an agreement.
Aiutndbll not participating.