Atkins v. United States

WILLIAMS, Judge.

The plaintiff seeks to recover $10,433.20, an alleged overpayment of his federal income tax for the calendar year 1928. The claim is based on the contention that the plaintiff is entitled to deduct from his .gross income for the year 1928 the amount of a loss sustained by him in the year 1927.

Plaintiff’s income tax return for the year 1927 showed a loss of $56,186.33 and' no tax due. In arriving at the amount of the loss, plaintiff took deductions in his return of $132,895.05 on account of certain Florida real estate transactions. The Commissioner of Internal Revenue, upon…