Brooks v. Comm'r

ROBERT JAY AND ELIZABETH T. BROOKS, Petitioners v. COMMISSIONER OF INTERNAL REVENUE, Respondent

Brooks v. Comm'r

Docket No. 3430-09

United States Tax Court

T.C. Memo 2012-25; 2012 Tax Ct. Memo LEXIS 24;

January 26, 2012, Filed

Decision will be entered under Rule 155.

Thomas Edward Brever, for petitioners.

David L. Zoss, for respondent.

HOLMES, Judge.

HOLMES

MEMORANDUM OPINION

HOLMES, Judge: Robert Brooks received a loan from his employer, Dain Rauscher, Inc. in 1998. Dain promised to forgive the entire loan—including accrued interest—if Brooks stayed employed for the full five-year term of the loan.…