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ESTATE OF DURANTE v. COMMISSIONER

Docket No. 2145-86.

55 T.C.M. 123 (1988)

T.C. Memo. 1988-60

Estate of Louis Durante, Deceased, John L. Durante, Executor, and Angela Durante v. Commissioner.

United States Tax Court.

Filed February 22, 1988.

Attorney(s) appearing for the Case

S. Mac Gutman, 31-40 123rd St., Flushing, N.Y., for the petitioners. Jody Tancer, for the respondent.

Memorandum Findings of Fact and Opinion

SHIELDS, Judge:

Respondent determined deficiencies in petitioners' Federal income taxes for tax years 1981 and 1982 in the amounts of $35,797.00 and $19,101.00, respectively. The issue is whether petitioners are entitled to deduct as business bad debts certain amounts paid by Louis Durante during his lifetime as the guarantor of a corporate loan.

Findings of...

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