MEADE v. COMMISSIONER

Docket No. 2731-71.

32 T.C.M. 200 (1973)

T.C. Memo. 1973-46

Thomas Meade, Jr. and Helen Meade v. Commissioner.

United States Tax Court.

Filed February 26, 1973.


Attorney(s) appearing for the Case

Daniel W. Boyle, for the petitioners. Robert J. Murray, for the respondent.


Memorandum Findings of Fact and Opinion

FAY, Judge:

Respondent determined deficiencies in the income tax liability of the petitioners for the taxable years 1967, 1968, and 1969, as follows:

     Year              Amount

     1967 .........  $ 7,795.72
     1968 .........    7,581.10
     1969 .........   21,268.92

The issue is whether losses incurred in the commodity futures market are capital or ordinary.

Findings of...

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