Alan Beckley and Virginia Johnston Beckley v. Commissioner

130 T.C. No. 18

UNITED STATES TAX COURT ALAN BECKLEY AND VIRGINIA JOHNSTON BECKLEY, Petitioners v. COMMISSIONER OF INTERNAL REVENUE, Respondent Docket No. 4722-06. Filed June 30, 2008. Petitioner wife lent funds to a corporation in which petitioner husband was a shareholder. The corporation used the borrowed funds to develop a working model of Web-based video conferencing software. The corporation, however, had financial problems and was dissolved, and the working model was transferred to a second corporation in which petitioner husband was a shareholder. In 2001 and 2002, the second…