SPECTRE v. COMMISSIONER

Docket No. 5574-63.

25 T.C.M. 519 (1966)

T.C. Memo. 1966-97

Harry S. Spectre and Vivian B. Spectre v. Commissioner.

United States Tax Court.

Filed May 16, 1966.


Attorney(s) appearing for the Case

Michael Needle, for the petitioners. Robert B. Dugan, for the respondent.


Memorandum Findings of Fact and Opinion

BRUCE, Judge:

Respondent determined deficiencies in income tax for the calendar years 1959, 1960, and 1961 in the respective amounts of $4,353.80, $3,280.02, and $2,770.04, and an addition to tax under section 6651(a) of the Internal Revenue Code of 1954 for delinquency in filing the return for 1959 in the amount of $1,080.92.

The issues for decision are (1) what was the amount of the loss sustained by the...

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