Edwards v. Commissioner
United States Tax Court
Petitioner, in 1953, took a nonbusiness bad debt deduction arising out of a series of advancements made to his son-in-law in prior years. Held, a valid debt was created but petitioner did not meet his burden of proof to show that the debt actually became worthless in 1953.
1Opinion of the Court
Matthew Edwards, Sr. v. Commissioner.
Edwards v. Commissioner
Docket No. 61950.
United States Tax Court
T.C. Memo 1959-150; 1959 Tax Ct. Memo LEXIS 98; 18 T.C.M. (CCH) 645; T.C.M. (RIA) 59150;
July 21, 1959
Petitioner, in 1953, took a nonbusiness bad debt deduction arising out of a series of advancements made to his son-in-law in prior years. Held, a valid debt was created but petitioner did not meet his burden of proof to show that the debt actually became worthless in 1953.
H. S. Life, Esq., Iowa Trust & Savings Bank Building, Oskaloosa, Ia., for the petitioner. Emory L. Langdon, Esq., for the…
2Cases cited4 opinions
- Trinco Industries, Inc. v. CommissionerUnited States Tax Court · 1954
- Robertson v. CommissionerUnited States Board of Tax Appeals · 1930
- Shippen v. CommissionerUnited States Tax Court · 1958
- American Foundry Co. v. CommissionerUnited States Board of Tax Appeals · 1928