BECK v. C. I. R.

No. 81-7053.

678 F.2d 818 (1982)

John C. BECK and Kathleen Beck, Plaintiffs-Appellants, v. COMMISSIONER OF INTERNAL REVENUE, Defendant-Appellee.

United States Court of Appeals, Ninth Circuit.

Decided June 2, 1982.


Attorney(s) appearing for the Case

Samuel A. Karlin, Los Angeles, Cal., for plaintiffs-appellants.

Robert S. Pomerance, Washington, D. C., argued, for defendant-appellee; Robert J. Duffy, Daniel F. Ross, John F. Murray, Michael L. Paup, Washington, D. C., on brief.

Before WALLACE, HUG and ALARCON, Circuit Judges.


ALARCON, Circuit Judge:

John C. and Kathleen Beck ("Taxpayers") were limited partners in two California partnerships — Moreno Company Two ("Moreno 2") and Riverside Two ("Riverside 2") — formed for the purpose of purchasing commercial real estate.1 Taxpayers contributed a total of $23,085 to these partnerships and the following year sought to deduct claimed losses totaling $92,554 arising from their share of prepaid interest...

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