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PENSINGER v. COMMISSIONER

Docket No. 3882-77.

40 T.C.M. 66 (1980)

T.C. Memo. 1980-104

Charles M. Pensinger and Marriel J. Pensinger v. Commissioner.

United States Tax Court.

Filed April 2, 1980.

Attorney(s) appearing for the Case

John Campo III, 45 W. Jefferson, Phoenix, Ariz., for the petitioners. Walter T. Thompson, for the respondent.

Memorandum Findings of Fact and Opinion

GOFFE, Judge:

The Commissioner determined a deficiency in the Federal income tax of petitioners for the taxable year 1973 in the amount of $3,379. There are three issues to be decided in this case:

(1) The basis of petitioners' stock in Pensinger's Specialty Construction Supply on the date that such stock became worthless;

(2) Whether petitioners' stock in Pensinger's Specialty Construction Supply was...

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