HADERLIE v. COMMISSIONER

Docket No. 8856-96.

74 T.C.M. 1254 (1997)

T.C. Memo. 1997-525

Verl W. and Frances M. Haderlie v. Commissioner.

United States Tax Court.

Filed November 19, 1997.


Attorney(s) appearing for the Case

Verl W. and Frances M. Haderlie, pro sese. Michael W. Lloyd, for the respondent.


MEMORANDUM FINDINGS OF FACT AND OPINION

GERBER, Judge:

Respondent determined a $10,049 deficiency in petitioners' 1991 income tax that is attributable to one adjustment.1 That adjustment pertains to a scheme where petitioner Verl W. Haderlie applied for an insurance policy, paid the $40,653 premium, and $40,653 was returned to him by the procuring insurance agent. The insurance agent promoted the transaction because he received...

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