GOLSEN v. COMMISSIONER

Docket No. 5863-65.

54 T.C. 742 (1970)

JACK E. GOLSEN AND SYLVIA H. GOLSEN, PETITIONERS v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.

United States Tax Court.

Filed April 9, 1970.


Attorney(s) appearing for the Case

Julian P. Kornfeld and Robert B. Milsten, for the petitioners.

Harold Friedman, for the respondent.


The Commissioner determined a deficiency of $2,918.15 in petitioners' income tax for 1962. The only issue is whether a $12,441.40 payment made by petitioner Jack E. Golsen to the Western Security Life Insurance Co. is deductible as an interest payment pursuant to section 163, I.R.C. 1954.

FINDINGS OF FACT

The parties have stipulated certain facts, which, together with the attached exhibits, are incorporated herein by this reference.

Petitioners Jack...

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