T.C. Memo. 1998-183
UNITED STATES TAX COURT
PATRICK F. AND ARLENE G. SHEEHY, Petitioners v.
COMMISSIONER OF INTERNAL REVENUE, Respondent
Docket No. 22034-96. Filed May 18, 1998.
Ralph C. Larsen, for petitioners.
Christine V. Olsen, for respondent.
MEMORANDUM OPINION
RAUM, Judge: The Commissioner determined deficiencies of
$31,643 and $1,605 in petitioners' 1992 and 1993 Federal income
taxes, respectively. At issue is whether petitioners are
entitled to deduct an expenditure of $50,000 in connection with
their investment in Recyclable Containers Company. This case was
submitted on the basis of a stipulation of facts.
Page: 1 2 3 4 5 6 7 8 9 10 Next
Last modified: May 25, 2011