FARAONE v. COMMISSIONER

Docket No. 5633-73.

34 T.C.M. 1035 (1975)

T.C. Memo. 1975-240

Louis P. Faraone and Barbara Faraone v. Commissioner.

United States Tax Court.

Filed July 21, 1975.


Attorney(s) appearing for the Case

Henry E. Gelles, Saranac St., Lake Placid, N.Y., for the petitioners. Peter J. Panuthos, for the respondent.


Memorandum Findings of Fact and Opinion

GOFFE, Judge:

The Commissioner determined a deficiency in petitioners' income tax for the taxable year 1970 in the amount of $3,855.69. The sole issue to be decided is whether petitioners realized dividend income from L.T.S. Mobile Homes, Inc. (L.T.S.) in the amount of $16,400.

Findings of Fact

Some of the facts have been stipulated. The stipulation of facts and exhibits are incorporated by reference...

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