Oregon Tax Court October 12, 2000, TC 4409 (Gunnari v. Department of Revenue)

CARL N. BYERS, Judge.

Plaintiff (taxpayer) appealed his 1993 personal income tax assessment. The assessment disallowed taxpayer’s claimed bad-debt deduction and an offset of gain derived from the sale of taxpayer’s principal residence.

FACTS

Taxpayer, president and one-third owner of WCA Marketing, Inc. (WCA), tried to secure a $3 million loan on behalf of WCA from an overseas investor.