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FOX v. COMMISSIONER

Docket No. 18802.

14 T.C. 1160 (1950)

AGNES I. FOX, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.

United States Tax Court.

Promulgated June 15, 1950.

Attorney(s) appearing for the Case

Harold Wisan, Esq., for the petitioner.

J. Richard Riggles, Jr., Esq., and Joseph Lawless, Jr., Esq., for the respondent.

The respondent determined a deficiency of $5,287.45 in the petitioner's income tax for 1944. The question for determination is the deductibility of $15,000 paid by her under her guaranty of her deceased husband's brokerage account. By an amended answer the respondent has moved to increase the deficiency on the ground that in determining the deficiency he erred in allowing as a deduction for a nonbusiness bad debt $1,156.25 of the amount in question.

FINDINGS OF FACT...

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