Wright v. Commissioner

DOUGLAS A. and MARY WRIGHT, Petitioners v. COMMISSIONER OF INTERNAL REVENUE, Respondent

Wright v. Commissioner

Docket No. 3134-77.

United States Tax Court

T.C. Memo 1980-279; 1980 Tax Ct. Memo LEXIS 305; 40 T.C.M. (CCH) 781; T.C.M. (RIA) 80279; 67 Oil & Gas Rep. 494;

July 29, 1980, Filed

Brian A. Steenson,Garthe Brown and Lee A. Hansen, counsel for petitioners.

Jan R. Pierce, counsel for respondent.

NIMS

MEMORANDUM FINDINGS OF FACT AND OPINION

NIMS, Judge: 1 The respondent determined a deficiency in income tax due from the petitioners for the taxable year 1972 in the amount of $124,131. The issues…