BAUM v. COMMISSIONER

Docket No. 45813.

13 T.C.M. 853 (1954)

T. C. Memo. 1954-146

Edward Baum and Bertha F. Baum v. Commissioner.

United States Tax Court.

Filed August 31, 1954.


Attorney(s) appearing for the Case

Paul A. Gorin, Esq., 31 State Street, Boston, Mass., for the petitioners. R. Monroe Schwartz, Esq., for the respondent.


Memorandum Findings of Fact and Opinion

The Commissioner determined deficiencies in the income tax of petitioner in the following years and amounts:

  Year    Tax                Deficiency

  1947   Income ............ $8,316.83
  1948   Income ............  2,759.00
  1949   Income ............  1,159.00

The only issue is whether certain loans made by Edward Baum to Janice Shoe Company, Inc., a corporation, are deductible as a loss from...

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