United States Tenth Circuit
Watkins v. Comm'r of Internal Revenue, 04-9016
A determination by the IRS finding that lump-sum proceeds from a sale of petitioner's interest in lottery winnings should be characterized as ordinary income for tax purposes is affirmed where, under the circumstances, the sale of petitioner's future lottery payments did not represent a capital gain.
Appellate Information
- Decided 05/11/2006
- Published 05/11/2006
Judges
- SEYMOUR, Circuit Judge., Before O'BRIEN, SEYMOUR, and BALDOCK, Circuit Judges.
Court
- United States Tenth Circuit
Counsel
- For Appellant:
- Eric J. Zinn of Brownstein Hyatt & Farber, PC, Denver, CO, for Petitioner-Appellant.
- For Appellees:
- Regina S. Moriarty, Attorney, Tax Division (Richard Farber, Attorney, Tax Division; and Eileen J. O'Connor, Assistant Attorney General, with her on the brief), Department of Justice, Washington, DC, for Respondent-Appellee.