United States Tax Court February 26, 1958, Docket No. 60247. (Sonz v. Commissioner)

Ben Sonz and Frances Sonz v. Commissioner. Sonz v. Commissioner Docket No. 60247. United States Tax Court T.C. Memo 1958-30; 1958 Tax Ct. Memo LEXIS 198; 17 T.C.M. (CCH) 125; T.C.M. (RIA) 58030; February 26, 1958 *198 Held: Losses resulting from the worthlessness of certain advances and loans by petitioners to a magazine publishing corporation are not deductible under section 23(k)(1), I.R.C.