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BUTLER v. COMMISSIONER

Docket No. 69489.

36 T.C. 1097 (1961)

GEORGE A. BUTLER AND ANNE G. BUTLER, PETITIONERS, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.

United States Tax Court.

Filed September 19, 1961.

Attorney(s) appearing for the Case

William C. W. Haynes, Esq., for the petitioners.

D. Louis Bergeron, Esq., for the respondent.

FISHER, Judge:

Respondent determined a deficiency in the income tax of petitioners for the taxable year 1952 in the amount of $10,596.16.

The sole question presented for our consideration is whether loans aggregating $50,000 made by petitioner to a partnership of which he was a limited partner are to be treated as a business bad debt under section 23(k) (1) of the Code of 1939 or as a nonbusiness bad debt under...

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