MODELL v. COMMISSIONER

Docket No. 11323-77.

47 T.C.M. 706 (1983)

T.C. Memo. 1983-761

Stuart M. Modell and Judith S. Modell v. Commissioner.

United States Tax Court.

Filed December 19, 1983.


Attorney(s) appearing for the Case

Leonard J. Witman, for the petitioners. Joy M. Miyasaki, for the respondent.


Memorandum Findings of Fact and Opinion

KÖRNER, Judge:

Respondent determined deficiencies in petitioners' Federal income taxes for taxable years ending December 31, 1971, and December 31, 1972, in the respective amounts of $27,056.26 and $25,803.78. After concessions, the issues for decision herein are as follows: (1) Whether payments made by petitioner, Stuart M. Modell, during taxable years 1971 and 1972 to lenders and trade creditors of F&J Derusting...

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