*511 Before JAMES, SMITH, and TRUSSELL.
This is an appeal from the determination of a deficiency in income and profits taxes for the year 1920 in the amount of $2,292.35. The taxpayer appeals from a finding of the Commissioner that a profit was made in the sale of capital assets in the amount of $8,186.89.
FINDINGS OF FACT.
The taxpayer is a Vermont corporation with its principal office at Brattleboro.
During 1920 the taxpayer received $5,500 in final liquidation of two corporations, its stock in which was acquired after March 1, 1913, at a cost of $4,172. During the same year the taxpayer received from the sale of certain real estate a gross consideration of $13,000, of which $1,000 was allocated as compensation for the removal of certain buildings, the cost of which removal was $858.89. The cost of such real estate is not definitely established but was less than $12,000. The value on March 1, 1913, was $12,000.
DECISION.
The deficiency should be computed in accordance with the foregoing findings of fact. Final determination will be settled on consent or on 15*2366 days' notice, in accordance with Rule 50.
ARUNDELL not participating.