ALLEN v. COMMISSIONER

Docket No. 62379.

18 T.C.M. 1101 (1959)

T.C. Memo. 1959-227

Don T. Allen and Helen M. Allen v. Commissioner.

United States Tax Court.

Filed November 30, 1959.


Attorney(s) appearing for the Case

Joseph R. Barnet, Esq., 735 North Water Street, Milwaukee, Wis., for the petitioners. Delman H. Eure, Esq., and Julian L. Berman, Esq., for the respondent.


Memorandum Findings of Fact and Opinion

PIERCE, Judge:

Respondent determined deficiencies in the income taxes of the petitioners for the years 1952 and 1953, in the respective amounts of $12,570.66 and $9,974.80. Petitioners dispute these amounts, and claim an overpayment for the year 1953 in the amount of $681.46.

The issue for decision is whether losses incurred by the principal petitioner, in respect of various payments and advancements which...

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