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GALE v. COMMISSIONER

Docket No. 1777-62.

41 T.C. 269 (1963)

LOUIS GALE AND NAOMI GALE, PETITIONERS, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.

United States Tax Court.

Filed November 25, 1963.

Attorney(s) appearing for the Case

Melvin M. Engel, for the petitioners.

Marvin T. Scott, for the respondent.

OPINION

DRENNEN, Judge:

Respondent determined a deficiency in petitioners' income tax for the year 1959 in the amount of $8,000.65.

The only issue for decision is whether petitioners are entitled to a deduction for a fire loss in 1959 in the amount of $23,000.

All the facts were stipulated and are found accordingly.

Petitioners, husband and wife, resided in Houston, Tex., in 1959 and filed a joint Federal income tax return...

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