Bartlett v. Commissioner
United States Tax Court
Held, the Commissioner was justified in computing the taxpayer's net income by the net worth method; various disputed items determined, and the manner of applying the net worth method approved. Held, further, a bad debt deduction was allowable for the final period involved in the circumstances of this case.
1Opinion of the Court
FINDINGS OF FACT AND OPINION.
Raum, Judge:
The Commissioner determined deficiencies in the aggregate amount of $127,619.43 for 1944, 1945, and the period January 1-June 8,1946, with respect to income tax liability of W. D. Bartlett, who died on June 8, 1946. The returns in question were filed with the collector of internal revenue at Jacksonville, Florida. The returns reported net income in the amount of $20,292.79 for 1944, a net loss of $2,351.45 for 1945, and a net loss of $34,474.61 for the period January 1-June 8,1946. The deficiencies were determined by using the increase in net worth and…
2Cases cited2 opinions
- Cohan v. Commissioner of Internal RevenueCourt of Appeals for the Second Circuit · 1930
- D'Alise v. CommissionerUnited States Tax Court · 1954
3Cited by36 opinions
- Gleis v. CommissionerUnited States Tax Court · 1955
- Anderson v. CommissionerUnited States Tax Court · 1956
- Estate of Cury v. CommissionerUnited States Tax Court · 1954
- Schwarzkopf v. CommissionerUnited States Tax Court · 1956
- Banks v. CommissionerUnited States Tax Court · 1961
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