BROWN v. COMMISSIONER

Docket No. 47805-86.

55 T.C.M. 675 (1988)

T.C. Memo. 1988-174

J. Douglas Brown and June H. Brown v. Commissioner.

United States Tax Court.

Filed April 25, 1988.


Attorney(s) appearing for the Case

Ralph R. Bagley, for the petitioners. Christine Colley, for the respondent.


Memorandum Findings of Fact and Opinion

COHEN, Judge:

Respondent determined a deficiency of $10,000.20 in petitioners' 1983 Federal income tax. The issue for determination is whether petitioners are entitled to claim during the year in issue a worthless security deduction of $50,000 with respect to a convertible debenture.

Findings of Fact

Some of the facts in this case are stipulated, and the facts set forth in the stipulation are incorporated...

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