ASTLEFORD v. COMMISSIONER

Docket No. 3433-71.

33 T.C.M. 793 (1974)

T.C. Memo. 1974-184

M.G. Astleford and Jane Z. Astleford v. Commissioner.

United States Tax Court.

Filed July 11, 1974.


Attorney(s) appearing for the Case

Dennis M. Mathison, David E. Weiss, Jr., 4200 IDS Center, 80 S. 8th St., Minneapolis, Minn., for the petitioners. Robert H. Burgess, for the respondent.


Memorandum Findings of Fact and Opinion

GOFFE, Judge:

The Commissioner determined deficiencies in Federal income tax of petitioners as follows:

  1963 ................ $ 47,950.45
  1964 ................  147,672.38
  1966 ................   75,383.94
                        ___________
     Total ............ $271,006.77

The principal issue presented is whether a bad debt loss of $609,658.61 sustained by petitioners' partnership...

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