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ESTATE OF MOORSHEAD v. COMMISSIONER

Docket No. 48008.

14 T.C.M. 848 (1955)

T.C. Memo. 1955-215

Estate of Frank A. Moorshead, Deceased, Hannah W. Moorshead and Frank A. Moorshead, Jr., Executors, and Hannah W. Moorshead, Individually v. Commissioner.

United States Tax Court.

Filed July 29, 1955.

Attorney(s) appearing for the Case

William H. Doerr, Jr., Esq., for the petitioners. William G. Handfield, Esq., for the respondent.

Memorandum Findings of Fact and Opinion

WITHEY, Judge:

The respondent has determined a deficiency of $11,043.16 in the income tax of Frank A. Moorshead, deceased, and Hannah W. Moorshead for 1948. The only issue presented is the correctness of respondent's action in disallowing a deduction of $27,851.59 taken as a business bad debt on account of sums advanced to a client or paid for his account in 1939 and all of which remained unpaid at the time of the...

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