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Tax Court Holds That Sale of Right to Future Lottery Winnings Produces Ordinary Income

Friday, September 24, 2004

The Tax Court yesterday, in Lattera v. Commissioner, T.C. Memo. 2004-216 (9/23/04), confirmed that the sale of the right to future lottery winnings produces ordinary income and not capital gain under Davis v. Commissioner, 119 T.C. 1 (2002).


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