PEAKE v. COMMISSIONER

Docket No. 27637.

10 T.C.M. 577 (1951)

Junius B. Peake and Miriam M. Peake v. Commissioner.

United States Tax Court.

Entered June 15, 1951.


Attorney(s) appearing for the Case

William M. Sperry, II, Esq., 52 William St., New York, N. Y., for the petitioners. Charles M. Greenspan, Esq., for the respondent.


Memorandum Findings of Fact and Opinion

The respondent determined a deficiency in the income tax of petitioners for the calendar year 1946 in the amount of $2,767.32. The sole question is whether or not the petitioners are entitled to deduct the entire amount of a loss sustained in the taxable year when a proprietary lease and stock in a cooperative apartment corporation became worthless.

Findings of Fact...

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