SHVETZ v. COMMISSIONER

Docket No. 7167-75.

38 T.C.M. 1163 (1979)

T.C. Memo. 1979-298

Alexander E. Shvetz and Eda Shvetz v. Commissioner.

United States Tax Court.

Filed August 7, 1979.


Attorney(s) appearing for the Case

Guy B. Maxfield and Gilbert T. Perlman, Fourteen Wall St., New York, N.Y., for the petitioners. H. Stephen Kesselman and Ellis L. Reemer, for the respondent.


Memorandum Findings of Fact and Opinion

SIMPSON, Judge:

The Commissioner determined a deficiency of $109,690.00 in the petitioners' 1969 Federal income tax. The parties have settled some of the issues. The issue remaining for decision is whether the petitioners are entitled to carryover a long-term capital loss to 1969 resulting from the worthlessness of certain stock. Resolution of such issue depends on (1) whether the petitioners have carried their burden...

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