Tsivoglou v. United States

BREWSTER, District Judge.

This is a petition brought to recover an income tax paid on petitioner’s income for the year 1919. His return, duly filed, showed taxable net income of $148,718.84, and a tax of $60,499.-49 was assessed thereon, of which amount $44,042.75 was paid. It is this amount the petitioner now seeks to recover. He claims a right to deduct from his gross income a loss of $149,700, which he failed to deduct in his return, and which, if allowed, would leave no taxable income received by him during the year 193 9.

Did the provisions of the Revenue Act of 1918 entitle him to make…