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CONVISER v. COMMISSIONER

Docket No. 17468-97.

77 T.C.M. 1431 (1999)

T.C. Memo. 1999-47

Michael A. Conviser and Barbara L. Conviser v. Commissioner.

United States Tax Court.

Filed February 17, 1999.

Attorney(s) appearing for the Case

Robert A. Wherry, Jr., for the petitioners. Robert A. Varra, for the respondent.

MEMORANDUM OPINION

COLVIN, Judge:

Respondent determined that petitioners are liable for deficiencies in Federal income tax of $4,931 for 1993, $16,739 for 1994, and $14,229 for 1995.

After concessions, the sole issue for decision is whether discharge of indebtedness income from an S corporation increases petitioners' basis in that corporation. We hold that it does not. See Nelson v. Commissioner [Dec. 52,578], 110 T.C. 114<...

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