Wolf v. Commissioner
United States Board of Tax Appeals
1. Year in which loss was sustained determined. 2. The action of the respondent in not determining petitioner's tax liability on the community-property basis is approved.
1Opinion of the Court
*1122OPINION.
Trammell:
The petitioner contends (1) that for the year 1919 he should be allowed a deduction of $16,702.34 representing a loss sustained on the stock of the North American Exploration Co. and (2) that the respondent erred in refusing to compute the petitioner’s tax liability on the community-property basis.
The respondent contends that whatever loss the petitioner sustained was sustained in 1916 and that no error was committed in treating for tax purposes the entire community income as the income of the petitioner.
The petitioner acquired 67% per cent of the stock of the North American…
2Cases cited5 opinions
- United States v. RobbinsSupreme Court of the United States · 1926
- Havemeyer v. Superior CourtCalifornia Supreme Court · 1890
- Rossi v. CaireCalifornia Supreme Court · 1916
- Newhall v. Western Zinc Min. Co.California Supreme Court · 1912
- Crystal Pier Co. v. SchneiderCalifornia Court of Appeal · 1919
3Cited by1 opinion
- Wolf v. CommissionerUnited States Board of Tax Appeals · 1927