Rothbart v. Commissioner
United States Tax Court
Business -- Regularly Carried On -- Net Operating Loss Carryover -- Sec. 122 (d) (5). -- Held, upon the facts, that a loss in 1951 from the sale of interests in royalties and mineral leases was not attributable to a business regularly carried on by petitioners, and, therefore, petitioners are not entitled to deductions for net operating loss carryback to 1950 and carryover to 1952, under section 122 (d) (5), 1939 Code.
1Opinion of the Court
Irving Rothbart and Hazel Rothbart, Petitioners, v. Commissioner of Internal Revenue, Respondent
Rothbart v. Commissioner
Docket No. 56256
United States Tax Court
26 T.C. 680; 1956 U.S. Tax Ct. LEXIS 143; 6 Oil & Gas Rep. 239;
June 25, 1956, Filed
Decision will be entered for the respondent.
Business -- Regularly Carried On -- Net Operating Loss Carryover -- Sec. 122 (d) (5). -- Held, upon the facts, that a loss in 1951 from the sale of interests in royalties and mineral leases was not attributable to a business regularly carried on by petitioners, and, therefore, petitioners are not entitled to…
2Cases cited1 opinion
- Rothbart v. CommissionerUnited States Tax Court · 1956