United States Tax Court September 9, 1985, Docket No. 28440-82. (ATES v. COMMISSIONER)

LEROY D. and MILDRED F. ATES, Petitioners v. COMMISSIONER OF INTERNAL REVENUE, Respondent ATES v. COMMISSIONER Docket No. 28440-82. United States Tax Court T.C. Memo 1985-469; 1985 Tax Ct. Memo LEXIS 162; 50 T.C.M. (CCH) 1003; T.C.M. (RIA) 85469; September 9, 1985. *162 Held: (1) Ps are not entitled to deduct amounts purportedly loaned to their children.