Wade v. Commissioner

NATHAN L. WADE AND BONNIE W. WADE, Petitioners v. COMMISSIONER OF INTERNAL REVENUE, Respondent

Wade v. Commissioner

Docket No. 25441-87.

United States Tax Court

T.C. Memo 1988-118; 1988 Tax Ct. Memo LEXIS 146; 55 T.C.M. (CCH) 413; T.C.M. (RIA) 88118;

March 17, 1988.

Nathan L. Wade and Bonnie W. Wade, pro se.

Thomas N. Thompson, for the respondent.

SWIFT

MEMORANDUM FINDINGS OF FACT AND OPINION

SWIFT, Judge: Respondent determined deficiencies in petitioners' Federal income tax liabilities as follows:

Year

Deficiency

1983

$ 1,162

1984

1,432

1985

659

Three issues remain for decision: (1) The fair market value of…