MASON v. C. I. R.

No. 78-2371.

646 F.2d 1309 (1980)

Dan E. MASON and Beverly R. Mason, Petitioners-Appellees, v. COMMISSIONER OF INTERNAL REVENUE, Respondent-Appellant.

United States Court of Appeals, Ninth Circuit.

Decided September 5, 1980.


Attorney(s) appearing for the Case

David English Carmack, Washington, D.C., for respondent-appellant.

Frank H. Lang, Fresno, Cal., argued for petitioners-appellees; Timothy B. McBride, Washington, D.C., on brief.

Before CHOY, GOODWIN, and FARRIS, Circuit Judges.


PER CURIAM:

The tax court held that the Masons properly deducted from their 1967 gross income the losses of a Subchapter S corporation. 68 T.C. 163 (1977). We affirm.

Dan E. Mason1 formed a corporation, Arrow Equipment Sales ("Arrow"), from his solely owned business. Arrow made a valid election to be treated as an electing small business corporation under Subchapter S of the Internal Revenue Code...

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