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CARSELLO v. COMMISSIONER

Docket No. 2315-75.

35 T.C.M. 832 (1976)

T.C. Memo. 1976-193

Elmer and Cecile Carsello v. Commissioner.

United States Tax Court.

Filed June 15, 1976.

Attorney(s) appearing for the Case

Elmer Carsello, pro se, Box 5-263, Guadalajara 5, Mexico. James F. Hanley, Jr., for the respondent.

Memorandum Findings of Fact and Opinion

WILES, Judge:

Respondent determined a $4,786.57 deficiency in petitioners' 1970 income taxes. There are two issues: (1) Whether Elmer Carsello (hereinafter petitioner) may deduct, as ordinary loss, $13,927.20 for certain stock which became worthless in 1970 and (2) whether petitioner may deduct, as a charitable contribution, the cost of a newspaper advertisement urging state aid for non-public schools.

Findings...

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