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MONTELEONE v. COMMISSIONER

Docket No. 72859.

34 T.C. 688 (1960)

MICHELE MONTELEONE AND FRANCES MONTELEONE, PETITIONERS, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.

United States Tax Court.

Filed July 13, 1960.

Attorney(s) appearing for the Case

William A. Cruikshank, Jr., Esq., for the petitioners.

Eugene F. Reardon, Esq., for the respondent.

TIETJENS, Judge:

This proceeding involves an income tax deficiency for the taxable year 1954 in the amount of $13,301.

The issue for decision is whether petitioner suffered a theft loss deductible under the provisions of section 165(c)(3) of the 1954 Code.

FINDINGS OF FACT.

Some of the facts were stipulated, are so found, and are incorporated herein by this reference.

During the taxable...

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