United States Tax Court July 27, 1981, Docket No. 13505-79 (O'Brien v. Commissioner)

lead-opinion

Featherston, Judge:

Respondent determined a deficiency in the amount of $10,447.92 in petitioners’ Federal income tax for 1976. The sole issue for decision is whether the loss on petitioner Neil J. O’Brien’s withdrawal from a partnership was a capital or ordinary loss.

FINDINGS OF FACT

Petitioners Neil J. O’Brien (petitioner) and Patricia M.