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ESTATE OF WEIL v. COMMISSIONER

Docket No. 60161.

29 T.C. 366 (1957)

ESTATE OF LAWRENCE M. WEIL, DECEASED, EDWARD H. KAVINOKY AND LUCILLE G. WEIL, EXECUTORS, AND LUCILLE G. WEIL, SURVIVING WIFE, PETITIONERS, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.

United States Tax Court.

Filed November 26, 1957.

Attorney(s) appearing for the Case

Edward H. Kavinoky, Esq., and Arnold B. Gardner, Esq., for the petitioners.

James J. Quinn, Esq., for the respondent.

The Commissioner has determined a deficiency in petitioners' income tax for the year 1950 of $48,495.30. The deficiency is due to two adjustments made by the Commissioner to the net income reported by Lawrence M. Weil and his wife, Lucille G. Weil, in their joint return for 1950. These adjustments were:

(a) Bad debts -----------------------------   $73,756.25
(b) Dividends -----------------------------        37.50

Petitioners do not contest adjustment...

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