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KEANE v. C.I.R.

Nos. 87-7380, 87-7450, 88-7035, 88-7037, 88-7127, 88-7179 and 88-7251.

865 F.2d 1088 (1989)

John E. KEANE, Dorothy M. Keane, et al., Petitioners-Appellants, v. COMMISSIONER OF INTERNAL REVENUE, Respondent-Appellee.

United States Court of Appeals, Ninth Circuit.

Decided January 13, 1989.

Attorney(s) appearing for the Case

Martin M. Ruken, Chicago, Ill., for petitioners/appellants.

Kenneth L. Greene, Dept. of Justice, Washington, D.C., for respondent/appellee.

Before PREGERSON, CANBY, Jr. and BEEZER, Circuit Judges.

PREGERSON, Circuit Judge:

Appellants seek reversal of the Tax Court's decision in consolidated proceedings sub. nom. Glass v. Commissioner, 87 T.C. 1087 (1986). In those cases, the Tax Court rejected appellants' challenge to the Commissioner's disallowance of losses claimed by appellants on their federal income tax returns for the years 1975 through 1980. The appellants allegedly incurred net losses from closing transactions...

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