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DANCER v. COMMISSIONER

Docket No. 5180-77.

73 T.C. 1103 (1980)

HAROLD AND SANDRA DANCER, PETITIONERS v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.

United States Tax Court.

Filed March 13, 1980.

Attorney(s) appearing for the Case

John A. Lynch, Jr., for the petitioners.

Steven I. Klein, for the respondent.

NIMS, Judge:

Respondent determined a deficiency in income tax for the year 1974 in the amount of $15,998.80.

The only issue for our determination is whether $40,000 paid by Harold Dancer in 1974 in settlement of a civil action brought about as a consequence of an automobile accident is deductible in that year as an ordinary and necessary business expense under section 162(a).1 Respondent...

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