T.C. Memo. 2003-204
UNITED STATES TAX COURT
DALE H. AND EDITH LITTLEFIELD SUNDBY, Petitioners v.
COMMISSIONER OF INTERNAL REVENUE, Respondent
Docket No. 13000-01. Filed July 11, 2003.
Dale H. and Edith Littlefield Sundby, pro sese.
Michael S. Hensley, Kevin M. Brown, James A. Nelson, and
Jeffrey A. Schlei, for respondent.
MEMORANDUM OPINION
WELLS, Chief Judge: Respondent determined a deficiency in
petitioners’ 1997 Federal income tax of $77,372. The issue to be
decided is whether petitioners are entitled to a bad debt
deduction of $350,000 which they claimed on Schedule C of their
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