HERRICK v. COMMISSIONER

Docket No. 6242-75.

36 T.C.M. 708 (1977)

T.C. Memo. 1977-171

John W. Herrick and Judy Jones Herrick v. Commissioner.

United States Tax Court.

Filed June 7, 1977.


Attorney(s) appearing for the Case

John W. Herrick, pro se, 1906 Commerce Bldg., Ft. Worth, Tex. Richard D. Ames, for the respondent.


Memorandum Findings of Fact and Opinion

STERRETT, Judge:

Respondent determined a deficiency in, and addition to under section 6653(a), I.R.C. 1954, petitioners' Federal income tax for the calendar year 1972 in the amont of $52,278.83 and $2,613.94, respectively. Petitioners have conceded certain issues1 and the following remain for our decision:

(1) Whether petitioners' stock in SWD corporation became worthless during...

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