Ross v. Commissioner
United States Tax Court
Petitioners are husband and wife residing in California, a community property State. In each of the years 1955 and 1956, taking into account capital loss carryovers from 1954, they filed joint returns claiming capital loss deductions under section 1211(b), I.R.C. 1954, in the amount of $ 1,000 for the husband and $ 1,000 for the wife, or a total of $ 2,000. Held, petitioners are limited to only one $ 1,000 capital loss deduction for each of the years involved.
1Opinion of the Court
John E. Ross and Eunice L. Ross, Petitioners, v. Commissioner of Internal Revenue, Respondent
Ross v. Commissioner
Docket No. 86318
United States Tax Court
37 T.C. 445; 1961 U.S. Tax Ct. LEXIS 15;
December 13, 1961, Filed
Decision will be entered for the respondent.
Petitioners are husband and wife residing in California, a community property State. In each of the years 1955 and 1956, taking into account capital loss carryovers from 1954, they filed joint returns claiming capital loss deductions under section 1211(b), I.R.C. 1954, in the amount of $ 1,000 for the husband and $ 1,000 for the wife, or…
2Cases cited4 opinions
- Helvering v. JanneySupreme Court of the United States · 1940
- Ross v. CommissionerUnited States Tax Court · 1961
- Tweedy v. CommissionerUnited States Board of Tax Appeals · 1942
- Levy v. CommissionerUnited States Board of Tax Appeals · 1942