GRANATA v. COMMISSIONER

Docket No. 1908-62.

22 T.C.M. 1627 (1963)

T.C. Memo. 1963-309

Anthony Granata and Carol Granata v. Commissioner.

United States Tax Court.

Filed November 21, 1963.


Attorney(s) appearing for the Case

Louis R. Mayer, for the petitioners. Clarence C. Roby, for the respondent.


Memorandum Findings of Fact and Opinion

SCOTT, Judge:

Respondent determined a deficiency in petitioners' income tax for the calendar year 1960 in the amount of $479.93. The issues for decision are:

(1) Whether petitioners are entitled in the calendar year 1960 to a deduction for a loss in connection with stock ownership in a corporation known as Wash-Well, Inc., and a bad debt deduction for an amount advanced to that corporation.

(2) Whether...

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