Memorandum Opinion
SCOTT, Judge:
Respondent determined a deficiency in petitioners' income tax for the calendar year 1961 in the amount of $6,219.22.
The issue for decision is whether petitioner Jack Schlosser is entitled to a deduction as an ordinary loss of an amount of $25,000 which he paid to two of the other stockholders of a corporation in which he also held a stock interest, or whether this sum is deductible only as a short-term capital loss...
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.
