United States Tax Court November 25, 1963, Docket No. 1777-62 (Gale v. Commissioner)

OPINION

Drennen, Judge:

Respondent determined a deficiency in petitioners’ income tax for the year 1959 in the amount of $8,000.65.

The only issue for decision is whether petitioners are entitled to a deduction for a fire loss in 1959 in the amount of $23,000.

All the facts were stipulated and are found accordingly.

Petitioners, husband and wife, resided in Houston, Tex.