FISHER, Judge:
Respondent determined a deficiency in income tax against petitioners for the taxable year 1955 in the amount of $4,084.21.
The principal issue is whether petitioner, who actively participated in a scheme to duplicate United States currency, and in connection therewith was swindled out of $15,000, is entitled to a deduction of that amount under section 165(c)(2) or (3) of the Code of 1954, or whether such deduction should be disallowed...
Let's get started
Welcome to the leading source of independent legal reporting
Sign on now to see your case.
Or view more than 10 million decisions and orders.
- Updated daily.
- Uncompromising quality.
- Complete, Accurate, Current.