LANDRETH v. COMMISSIONER

Docket No. 4432-83.

50 T.C.M. 728 (1985)

T.C. Memo. 1985-413

Ivan K. Landreth and Lucille Landreth v. Commissioner.

United States Tax Court.

Filed August 12, 1985.


Attorney(s) appearing for the Case

Robert J. Shaw, 999 Third Ave., Seattle, Wash., and Paul R. Cressman, Jr., for the petitioners. Theodore J. Kletnick and Gary Kirschenbaum, for the respondent.


Memorandum Findings of Fact and Opinion

SCOTT, Judge:

Respondent determined a deficiency in petitioners' income tax for the calendar year 1978 in the amount of $132,468. The issues for decision are (1) whether petitioners are entitled to deduct losses from trading in gold commodity futures straddles for the year 1978 in the amount of $369,400 and losses in that year from trading in U. S. Treasury bills (T...

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