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FOEHL v. COMMISSIONER

Docket No. 82022.

20 T.C.M. 418 (1961)

T.C. Memo. 1961-93

Charles A. Foehl, Jr., and Mary Mason Foehl v. Commissioner.

United States Tax Court.

Filed March 31, 1961.

Attorney(s) appearing for the Case

James M. Keith, Esq., 100 N. St., Pittsfield, Mass., for the petitioners. Douglas D. Robertson, Esq., for the respondent.

Memorandum Findings of Fact and Opinion

SCOTT, Judge:

Respondent determined a deficiency in the petitioners' income tax for the year 1954 in the amount of $1,412.61. The question for decision is whether petitioners are entitled to a deduction of $1,891.80 as a loss incurred in a trade or business or a transaction entered into for profit.

Findings of Fact

The petitioners are husband and wife who now reside in Williamstown, Massachusetts...

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