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INGERSOLL v. COMMISSIONER

Docket No. 6000.

7 T.C. 34 (1946)

FRANK B. INGERSOLL, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.

United States Tax Court.

Promulgated June 6, 1946.

Attorney(s) appearing for the Case

David B. Buerger, Esq., and Paul G. Rodewald, Esq., for the petitioner.

Brooks Fullerton, Esq., for the respondent.

OPINION.

SMITH, Judge:

The respondent has determined a deficiency in petitioner's income tax for 1941 in the amount of $8,139.85. The deficiency results for the most part from the disallowance of a deduction of $12,257.72 claimed by the petitioner in his return as a bad debt loss resulting from a payment which he made to a bank as guarantor of a note given by a family corporation.

Petitioner is an individual...

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