T.C. Memo. 1997-405
UNITED STATES TAX COURT
GRADY WHITLOCK LEASING CORPORATION, Petitioner v.
COMMISSIONER OF INTERNAL REVENUE, Respondent
Docket No. 1286-96. Filed September 11, 1997.
Amy Vickers Fritz and James R. Sheatsley, for petitioner.
Mary Ann Waters, for respondent.
MEMORANDUM OPINION
TANNENWALD, Judge: Respondent determined deficiencies in
petitioner's Federal income taxes of $9,300.52 for 1991 and
$10,887.87 for 1992. The issues for decision are whether
respondent properly disallowed (1) a loss of $3,325 on a sale to
a related entity; (2) deductions for life insurance premiums for
a policy on petitioner's principal shareholder; (3) deductions
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