§1661
4 cases·2 followed·2 cited—50% support
Statute Text — 26 U.S.C. §1661
Statute text not available for this section.
4 Citing Cases
We hold thatpetitioner was not.
The issue to be decided is whether petitioners are entitled to deduct - 2 - $491,054 as a business bad debt deduction under section 1661 in 1995.
- 2 - After concessions, the issues for our consideration are: (1) Whether petitioners are entitled to a business bad debt deduction in 1988 under section 1661 and to the carryback of the resulting 1988 net operating loss to the 1985 and 1986 taxable years, and (2) whether petitioner Darlene K.
- 2 - After concessions, the issues for our consideration are: (1) Whether petitioners are entitled to a business bad debt deduction in 1988 under section 1661 and to the carryback of the resulting 1988 net operating loss to the 1985 and 1986 taxable years, and (2) whether petitioner Darlene K.