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JOHNSTON v. COMMISSIONER

Docket Nos. 2903, 2904.

5 T.C.M. 1000 (1946)

Lillian E. Johnston v. Commissioner. M. O. Johnston v. Commissioner.

United States Tax Court.

Entered November 29, 1946.

Attorney(s) appearing for the Case

William M. Farrer, Esq., and Walter K. Mitchell, Esq., 950 Western Pacific Bldg., Los Angeles 15, Calif., for the petitioners. E. A. Tonjes, Esq., for the respondent.

Memorandum Findings of Fact and Opinion

The respondent has determined income tax deficiencies for the years 1940 and 1941 in the respective amounts of $848.90 and $24.95 against each petitioner. The questions presented are with respect to two deductions: (1) whether petitioner suffered a bad debt loss in 1940, and (2) whether an oil lease became worthless in 1941. The two cases were consolidated as the issues in each case are the same.

Findings of Fact...

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