BILLMAN v. COMMISSIONER

Docket No. 10747-77.

73 T.C. 139 (1979)

BERNARD C. BILLMAN AND BUT THI BILLMAN, PETITIONERS v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT

United States Tax Court.

Filed October 22, 1979.


Attorney(s) appearing for the Case

Bernard C. Billman, pro se.

Mark D. Petersen, for the respondent.


OPINION

TIETJENS, Judge:

Respondent determined a deficiency in Federal income tax for the year 1975 against petitioners in the amount of $3,192.62.

The only issue is whether petitioners Bernard C. Billman and But Thi Billman sustained a deductible loss of any kind under the Internal Revenue Code of 1954, when certain South Vietnamese currency which they owned, held in 1975, and still hold, became worthless...

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