GHEEN v. COMMISSIONER

Docket No. 92209.

22 T.C.M. 570 (1963)

T.C. Memo. 1963-122

Bruce I. Gheen and Jean Gheen v. Commissioner.

United States Tax Court.

Filed April 30, 1963.


Attorney(s) appearing for the Case

W. Dean Hopkins, Esq., 1105 E. Ohio Bldg., Cleveland, Ohio, for the petitioners. Buckley D. Sowards, Esq., for the respondent.


Memorandum Findings of Fact and Opinion

TRAIN, Judge:

Respondent determined deficiencies of $18,026.95 and $29,733.08 in petitioners' income taxes for the years 1957 and 1958, respectively.

The only issue to be determined is the deductibility as interest expense of amounts paid by petitioners in connection with transfers of United States Treasury notes.

Findings of Fact

Some of the...

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