Greaves v. Commissioner

WAYNE AND LOY GREAVES, Petitioners v. COMMISSIONER OF INTERNAL REVENUE, Respondent

Greaves v. Commissioner

Docket No. 5492-78.

United States Tax Court

T.C. Memo 1980-535; 1980 Tax Ct. Memo LEXIS 45; 41 T.C.M. (CCH) 468; T.C.M. (RIA) 80535;

December 4, 1980

Lewis P. Terrell, for the petitioners.

Douglas R. Fortney, for the respondent.

FAY

MEMORANDUM FINDINGS OF FACT AND OPINION

FAY, Judge: Respondent determined deficiencies of $ 89,327.37 and $ 522.62 in petitioners' Federal income taxes for 1973 and 1974, respectively. Because of concessions, the only remaining issue is whether petitioners suffered a…