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NEWMAN v. COMMISSIONER

Docket No. 11147-86.

56 T.C.M. 1232 (1989)

T.C. Memo. 1989-63

Willard F. Newman and Edth Newman v. Commissioner.

United States Tax Court.

Filed February 13, 1989.

Attorney(s) appearing for the Case

Leslie Shields, Suite 2500 Plaza Tower, Knoxville, Tenn., for the petitioners. Rebecca A. Dance, for the respondent.

Memorandum Findings of Fact and Opinion

NIMS, Chief Judge:

Respondent determined a deficiency in petitioners' Federal income tax for taxable year 1982 in the amount of $25,961.05. Concessions having been made, the sole issue remaining for decision is whether certain losses resulting from the transfer of monies and the guarantee of loans are business or nonbusiness bad debts and losses within section 166.1

Findings of...

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