Prescott v. Commissioner

WALTER C. PRESCOTT and AMELIA J. PRESCOTT, Petitioners v. COMMISSIONER OF INTERNAL REVENUE, Respondent

Prescott v. Commissioner

Docket No. 5432-82.

United States Tax Court

T.C. Memo 1983-709; 1983 Tax Ct. Memo LEXIS 81; 47 T.C.M. (CCH) 435; T.C.M. (RIA) 83709;

November 29, 1983.

Joseph B. Alala, Jr. and J. Robert Wren, Jr., for the petitioners.

Mathew E. Bates, for the respondent.

KORNER

MEMORANDUM OPINION

KORNER, Judge: Respondent determined a deficiency of $10,511.05 in petitioners' 1978 Federal income tax. After concessions, the sole issue for decision (as presented by the parties) is whether…