HALEY v. COMMISSIONER

Docket No. 28000.

16 T.C. 1509 (1951)

D. G. HALEY AND ANNE M. HALEY, PETITIONERS, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.

United States Tax Court.

Promulgated June 29, 1951.


Attorney(s) appearing for the Case

Henry Ravenel, Esq., and Lawrence A. Baker, Esq., for the petitioners.

Percy C. Young, Esq., for the respondent.


The Commissioner determined deficiencies in income tax against the petitioners as follows:

1944 ----------------------------   $18,357.73
1945 ----------------------------    15,314.55
1946 ----------------------------    55,107.49

The issues for decision are:

(1) What parts, if any, of the operating losses of Terra Ceia Bay Farms for the fiscal years ended June 30, 1944 and 1945 and for the last...

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