Nelson v. Commissioner

This is a petition to review a decision of the Board of Tax Appeals sustaining a deficiency assessment of income tax on a joint return filed by husband and wife for the year 1933. Only one question is presented and it is thus succinctly and correctly stated in the brief of petitioner: “Where a husband and wife exercise the privilege of filing a single joint return for a taxable period in which is reported aggregate gross income from the sale of non capital assets, are the losses of the wife to be offset against gains of the husband from such sales for the purpose of determining aggregate…