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LACK v. COMMISSIONER

Docket No. 55780.

15 T.C.M. 1169 (1956)

T.C. Memo. 1956-222

Richard B. Lack and wife, Martha S. Lack v. Commissioner.

United States Tax Court.

Filed September 28, 1956.

Attorney(s) appearing for the Case

W. F. Nowlin, Esq., Alamo National Building, San Antonio, Tex., for the petitioners. Frank C. Allen, Esq., for the respondent.

Memorandum Findings of Fact and Opinion

JOHNSON, Judge:

The Commissioner determined deficiencies in petitioners' income tax as follows:

  Year               Deficiency

  1949 ..........    $1,797.92
  1950 ..........     2,667.12
  1951 ..........     1,882.72

The issues for decision are:

(1) Did 13 certain mineral royalty interests owned by petitioners become worthless in 1949 so as to permit a claimed deduction in that...

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