KREBS v. COMMISSIONER

Docket No. 254-90.

63 T.C.M. 2413 (1992)

T.C. Memo. 1992-154

David Krebs and Cheryl Krebs v. Commissioner.

United States Tax Court.

Filed March 18, 1992.


Attorney(s) appearing for the Case

Ira B. Stechel and Thomas J. Fleming, 505 Park Ave., New York, N.Y., for the petitioners. Drita Tonuzi, for the respondent.


Memorandum Findings of Fact and Opinion

COLVIN, Judge:

Respondent determined deficiencies of $15,563 for 1979 and $52,642 for 1981 and an addition to tax of $13,160 for 1981 under section 6651(a)(1). David Krebs was a successful contemporary musical and theatrical promoter in the years at issue. Respondent disallowed: (1) Deductions attributable to expenses to promote Cheryl Krebs' music career, and (2) losses attributable to certain theatrical production...

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