Bibiloni v. Commissioner

JOSE C. & ESTELA O. BIBILONI, Petitioners v. COMMISSIONER OF INTERNAL REVENUE, Respondent

Bibiloni v. Commissioner

Docket No. 4561-72.

United States Tax Court

T.C. Memo 1973-284; 1973 Tax Ct. Memo LEXIS 3; 32 T.C.M. (CCH) 1369; T.C.M. (RIA) 73284;

December 27, 1973, Filed.

Manuel Zaiac, for the petitioners.

Paul R. Stanton, for the respondent.

DAWSON

MEMORANDUM OPINION

DAWSON, Judge: Respondent determined the following deficiencies in petitioners' Federal income taxes:

Year

Deficiency

1967

$1,156.58

1968

1,381.41

The only issue for decision is whether the petitioners are entitled to net operating loss…