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EDISON HOMES, INC. v. COMMISSIONER

Docket No. 43399-85.

56 T.C.M. 203 (1988)

T.C. Memo. 1988-441

Edison Homes, Inc., formerly Ardmor, Inc. v. Commissioner.

United States Tax Court.

Filed September 15, 1988.

Attorney(s) appearing for the Case

James H. Gilbert and Robert M. Spector, 1616 Park Ave., Minneapolis, Minn., for the petitioner. Gail Gibson and Gerald W. Leland, for the respondent.

Memorandum Findings of Fact and Opinion

WELLS, Judge:

Respondent determined a deficiency of $251,665.00 for petitioner's 1981 taxable year, and an addition to tax of $12,583.00 plus 50 percent of the interest accruing on the deficiency under section 6653(a).1 After concessions, the issues remaining for decision are (1) whether petitioner may deduct $528,024 as a reasonable addition to its bad debt reserve and (2) whether petitioner...

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