Michael A. Conviser and Barbara L. Conviser - Page 1

                                 T.C. Memo. 1999-47                                   

                               UNITED STATES TAX COURT                                

             MICHAEL A. CONVISER AND BARBARA L. CONVISER, Petitioners v.              
                    COMMISSIONER OF INTERNAL REVENUE, Respondent                      

               Docket No. 17468-97.             Filed February 17, 1999.              

               Robert A. Wherry, Jr., for petitioners.                                
               Robert A. Varra, for respondent.                                       

                                 MEMORANDUM OPINION                                   

               COLVIN, Judge:  Respondent determined that petitioners are             
          liable for deficiencies in Federal income tax of $4,931 for 1993,           
          $16,739 for 1994, and $14,229 for 1995.                                     
               After concessions, the sole issue for decision is whether              
          discharge of indebtedness income from an S corporation increases            
          petitioners' basis in that corporation.  We hold that it does               

Page:   1  2  3  4  5  Next

Last modified: May 25, 2011