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SMITH v. COMMISSIONER

Docket No. 46032.

14 T.C.M. 146 (1955)

T.C. Memo. 1955-42

Andrew W. Smith and Florence A. Smith v. Commissioner.

United States Tax Court.

Filed February 17, 1955.

Attorney(s) appearing for the Case

Jasper C. DeDobbeleer, Esq., Freitas Building, San Rafael, Calif., for the petitioners. T. M. Mather, Esq., for the respondent.

Memorandum Findings of Fact and Opinion

TIETJENS, Judge:

Respondent determined a deficiency in income tax for the year 1950 in the amount of $1,539.54.

The only question for decision is whether a loss sustained by petitioners in 1950 is deductible as a non-business bad debt under section 23(k)(4) of the Internal Revenue Code of 1939 rather than a bad debt under section 23(k)(1).

Findings of Fact

The stipulated facts are so found...

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