LINCOLN v. COMMISSIONER

Docket No. 10701-82.

50 T.C.M. 185 (1985)

T.C. Memo. 1985-300

James D. Lincoln and Clara M. Lincoln v. Commissioner.

United States Tax Court.

Filed June 24, 1985.


Attorney(s) appearing for the Case

W. Leslie Sully, Jr., Sully & Lenhard, 300 S. Fourth St., Las Vegas, Nev. for the petitioners. Ronald D. Dalrymple, for the respondent.


Opinion

DRENNEN, Judge:

This case is presently before the Court on respondent's motion for partial summary judgment on the single issue of whether petitioner is entitled to a deduction for a theft loss or a loss on a transaction entered into for profit for the year 1978. Section 165(c)(2) or (3).1 This issue was severed from the other issues in the case and was submitted under a statement of facts that was agreed on by the parties...

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