SCHUERHOLZ v. COMMISSIONER

Docket No. 8155-74.

35 T.C.M. 726 (1976)

T.C. Memo. 1976-163

Donald L. Schuerholz v. Commissioner.

United States Tax Court.

Filed May 24, 1976.


Attorney(s) appearing for the Case

Donald L. Schuerholz, pro se, 836 Kellogg Rd., Lutherville, Md. Fred G. Gerald, for the respondent.


Memorandum Findings of Fact and Opinion

FORRESTER, Judge:

Respondent has determined a deficiency in petitioner's 1967 income tax in the amount of $4,321.35. There are two issues before us. The first is whether petitioner is entitled to deduct his wholly worthless investment in a nightclub as an ordinary loss under section 165(c)(1).1 The second issue is whether petitioner can deduct, under section 162, $594 in expenses from promoting...

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