JOHNSON v. COMMISSIONER

Docket No. 44636.

24 T.C. 107 (1955)

JESSE JOHNSON AND VIRGINIA D. JOHNSON, PETITIONERS, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.

United States Tax Court.

Filed April 29, 1955.


Attorney(s) appearing for the Case

David R. Shelton, Esq., for the petitioners.

Robert E. Johnson, Esq., for the respondent.


This proceeding involves deficiencies in income tax determined against petitioners, as follows:

Year                          Deficiency

1947 ----------------------   $1,632.30
1948 ----------------------    1,727.22
1949 ----------------------    6,166.62
1950 ----------------------    3,186.94

The sole issue to be decided is whether petitioners are entitled to deduct as losses under section...

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