T.C. Memo. 1999-299
UNITED STATES TAX COURT
SHERYL D. BUMPUS, Petitioner v.
COMMISSIONER OF INTERNAL REVENUE, Respondent
Docket No. 8507-98. Filed September 7, 1999.
Yale F. Goldberg and Mitzi L. Torri, for petitioner.
David A. Winsten, for respondent.
MEMORANDUM FINDINGS OF FACT AND OPINION
CARLUZZO, Special Trial Judge: Respondent determined a
deficiency of $8,041 in petitioner's 1995 Federal income tax.
The issue for decision is whether petitioner, who was an
officer and shareholder of a closely held corporation, is
entitled to a deduction for a lease cancellation fee (the fee)
paid to release the corporation from liability under a lease.
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