LEWIS v. COMMISSIONER

Docket No. 2798-74.

65 T.C. 625 (1975)

S. REX LEWIS AND JOAN T. LEWIS, PETITIONERS v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.

United States Tax Court.

Filed December 24, 1975.


Attorney(s) appearing for the Case

Jackson B. Howard, appearing specially for the petitioners.

James L. Norris, for the respondent.


FAY, Judge:

Respondent determined a deficiency of $13,367.50 in the Federal income tax of petitioners for 1970. We are to decide if respondent properly disallowed an interest expense deduction claimed on the return filed for the year in issue by a partnership of which S. Rex Lewis was a member.

FINDINGS OF FACT

Certain facts have been stipulated and are so found.

Petitioners S. Rex and Joan...

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