T.C. Memo. 1998-162
UNITED STATES TAX COURT
EMHART CORPORATION & DOMESTIC SUBSIDIARIES, Petitioner v.
COMMISSIONER OF INTERNAL REVENUE, Respondent
Docket No. 20025-95. Filed May 5, 1998.
Herbert Odell, Joel C. Weiss, Samuel M. Maruca, and Philip
Karter, for petitioner.
Richard H. Gannon and Linda A. Love, for respondent.
MEMORANDUM FINDINGS OF FACT AND OPINION
FOLEY, Judge: Respondent determined a $369,046 deficiency
in petitioner's 1984 Federal income tax. The issue for decision
is whether petitioner's stock in United Shoe Machinery Portugal
(USMP) became worthless in 1984. We hold that it did. All
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