FEATHERSTON, Judge:
Respondent determined a deficiency of $104,937.46 in petitioners' income tax for 1966. The issues remaining for decision are as follows:
(1) Whether petitioners' pro rata share of the proceeds of a purported loan of $500,000 by the Jupiter Corp. to Empire Properties, a partnership of which petitioner Milton Falkoff was a member, was taxable income;
(2) Whether petitioners' pro rata share of a $274,275 distribution to Empire...
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.
