CHARLES v. COMMISSIONER

Docket No. 46124.

14 T.C.M. 1210 (1955)

T.C. Memo. 1955-309

Gladys O. Charles v. Commissioner.

United States Tax Court.

Filed November 23, 1955.


Attorney(s) appearing for the Case

Harry L. Cohn, Esq., for the petitioner. John R. Moodie, Esq., for the respondent.


Memorandum Findings of Fact and Opinion

The respondent determined a deficiency in income tax for the calendar year 1949 in the amount of $676.60. The deficiency results from respondent's holding that there was a closing inventory of materials and supplies in the business operated by the petitioner's husband. The petitioner alleges error in the respondent's determination, and further contends that the husband's business resulted in a loss, instead of income as reported...

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