BERNARD v. COMMISSIONER

Docket No. 4605-70.

32 T.C.M. 297 (1973)

T.C. Memo. 1973-69

Albert J. Bernard and Janice C. Bernard v. Commissioner.

United States Tax Court.

Filed March 26, 1973.


Attorney(s) appearing for the Case

Bernard L. Weddel, for the petitioners. Lawrence G. Becker, for the respondent.


Memorandum Findings of Fact and Opinion

WITHEY, Judge:

Respondent determined deficiencies in petitioners' income tax for the taxable years 1964 and 1965 in the respective amounts of $3,857.28 and $7,558.99.1

The issues for our consideration are: (1) Whether the loss sustained by petitioner in 1964 due to the worthlessness of his common stock in Bohemian Surf Equipment Manufacturing Company is deductible by him as a business...

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