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BURDETTE v. COMMISSIONER

Docket No. 6953-72.

34 T.C.M. 610 (1975)

T.C. Memo. 1975-130

Leftridge Burdette and Madeline Burdette v. Commissioner.

United States Tax Court.

Filed May 7, 1975.

Attorney(s) appearing for the Case

John B. Fisher, for the petitioners. Donald W. Mosser, for the respondent.

Memorandum Findings of Fact and Opinion

GOFFE, Judge:

The Commissioner determined a deficiency in the Federal income tax of the petitioners for the taxable year 1970 in the amount of $42,482.03. Some of the issues have been conceded by both parties and the only issue remaining for our decision concerns the proper timing for the deductibility of a loss on the abandonment of an oil well and the accrual of certain intangible drilling costs.

Findings...

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