Bridget J. Crawford (Pace) has posted Basis and the Bridge: A One-Act Story of Philadelphia Park on SSRN.  Here is the abstract:

This is a short, in-class exercise/demonstration/dramatization to help introductory Federal Income Tax students understand the holding of Philadelphia Park Amusement Co. v. U.S., 126 F. Supp. 184 (Ct. Cl. 1954). Different students can be selected to play the parts of Narrator, Taxpayer, City of Phildelphia and the Court. Through this interactive (and light-hearted) dialogue, students learn to avoid the dicta quagmire and focus on the rule: the basis of property received in an exchange is its fair market value at the time of receipt. Colleagues are welcome to adapt the materials for their own classroom use.