STOREY v. COMMISSIONER

Docket No. 329-70.

31 T.C.M. 1162 (1972)

T.C. Memo. 1972-236

Ben C. Storey and Mary F. Storey v. Commissioner.

United States Tax Court.

Filed November 27, 1972.


Attorney(s) appearing for the Case

Ben C. Storey, pro se, Rt. 1, Box 61-X, Buchholm Rd., Titusville, Fla. Donald W. Williamson, Jr., for the respondent.


Memorandum Findings of Fact and Opinion

WITHEY, Judge:

The Commissioner has determined a deficiency in the income tax of petitioners for the taxable year 1967 in the amount of $8,459.31. The issue before the Court is whether a loss suffered by petitioners upon the becoming worthless of certain stock issued to them constitutes an ordinary loss under section 1244 of the Code1 as contended by petitioners or a long-term capital loss...

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