Chamberlin v. Commissioner

SUMMARY ORDER

UPON DUE CONSIDERATION, IT IS HEREBY ORDERED, ADJUDGED AND DECREED that the judgment of the Tax Court be, and it hereby is, AFFIRMED.

This case principally involves a dispute over whether Petitioner Allen C. Cham*71berlin legitimately deducted from his income taxes business bad debts stemming from uncollectible loans he had made to two corporations in the early 1980s.* The United States Tax Court (Cohen, J.) ruled that Petitioner could claim a bad debt deduction, but less than Petitioner sought, and agreed with the Commissioner that the bad debt was “nonbusiness” in nature, thereby…