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SALES v. COMMISSIONER

Docket No. 85475.

37 T.C. 576 (1961)

STUART M. SALES AND LEONA TERRY SALES, PETITIONERS, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.

United States Tax Court.

Filed December 29, 1961.

Attorney(s) appearing for the Case

Irwin G. Waterman, Esq., for the petitioners.

Arthur Clark, Jr., Esq., for the respondent.

FAY, Judge:

The Commissioner determined a deficiency in petitioners' income tax for 1955 of $2,224.31.1 The sole question for decision is the character of a loss sustained by a partnership in 1955.

FINDINGS OF FACT.

Some of the facts have been stipulated and they are found accordingly.

Petitioners Stuart M. and Leona Terry Sales are husband and wife residing in Louisville, Kentucky. They filed a timely...

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