Padgett v. Commissioner
United States Tax Court
Held: Basis for computing gain or loss on certain sales of stock determined; loss for alleged worthlessness of shares of stock denied; negligence addition sustained; innocent spouse status determined.
1Opinion of the Court
KENNETH E. PADGETT, JR. and BARBARA F. PADGETT, Petitioners v. COMMISSIONER OF INTERNAL REVENUE, Respondent
Padgett v. Commissioner
Docket No. 8458-83.
United States Tax Court
T.C. Memo 1987-130; 1987 Tax Ct. Memo LEXIS 128; 53 T.C.M. (CCH) 332; T.C.M. (RIA) 87130;
March 11, 1987.
Held: Basis for computing gain or loss on certain sales of stock determined; loss for alleged worthlessness of shares of stock denied; negligence addition sustained; innocent spouse status determined.
Kenneth E. Padgett, Jr., pro se.
Clifford H. Tall, for petitioner Barbara F. Padgett.
James W. Clark, for the respondent.
WHITA…
2Cases cited3 opinions
- Boehm v. CommissionerSupreme Court of the United States · 1945
- Terzian v. CommissionerUnited States Tax Court · 1979
- Kluger Associates, Inc. v. CommissionerCourt of Appeals for the Second Circuit · 1980
3Cited by2 opinions
- Bell v. CommissionerUnited States Tax Court · 1989
- Osborne v. CommissionerUnited States Tax Court · 1995