LUTZ v. COMMISSIONER

Docket No. 1725-74.

35 T.C.M. 661 (1976)

T.C. Memo. 1976-146

Joel A. Lutz and Elaine B. Lutz v. Commissioner.

United States Tax Court.

Filed May 10, 1976.


Attorney(s) appearing for the Case

Clyde B. Pritchard, and David Lieberman, 1800 Travelers Tower, 2655 Evergreen, Southfield, Mich., for the petitioners. Ronald T. Murphy, for the respondent.


Memorandum Findings of Fact and Opinion

HALL, Judge:

Respondent determined a deficiency in petitioners' 1968 Federal income tax of $18,314.55.

The only issue is how much petitioners are entitled to deduct as a casualty loss arising from flood damage to their home in 1968.

Findings of Fact

Some of the facts have been stipulated and are so found.

Petitioners filed a joint income tax return in 1968. At the time they filed their...

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