LOCKWOOD v. COMMISSIONER

Docket No. 86237.

21 T.C.M. 1470 (1962)

T.C. Memo. 1962-278

Alma R. Lockwood and Ralph J. Lockwood v. Commissioner.

United States Tax Court.

Filed November 26, 1962.


Attorney(s) appearing for the Case

Ralph J. Lockwood, Esq., 115 Balmforth St., Bridgeport, Conn., for the petitioners. Lawrence A. Wright, Esq., for the respondent.


Memorandum Findings of Fact and Opinion

FISHER, Judge:

Respondent determined a deficiency in petitioners' income tax for the taxable year 1956 in the amount of $6,212.55. The only issues before us are: (1) Whether petitioner is entitled to a worthless bad debt deduction for that year and, if so, whether as a business or non-business debt; and (2) whether income realized by petitioner from the sale of real...

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