Goodbody v. Commissioner
United States Tax Court
A partner sustaining indivdual capital losses and having income consisting of his distributive share of partnership gains is not limited to $ 2,000 in his deduction for loss but is entitled, under section 117 (d), Revenue Act of 1936, to deduct $ 2,000 plus such distributive share of partnership gain. Neuberger v. Commissioner, 311 U.S. 83.
1Opinion of the Court
John L. Goodbody, Petitioner, v. Commissioner of Internal Revenue, Respondent
Goodbody v. Commissioner
Docket No. 111853
United States Tax Court
2 T.C. 700; 1943 U.S. Tax Ct. LEXIS 68;
September 16, 1943, Promulgated
Decision will be entered under Rule 50.
A partner sustaining indivdual capital losses and having income consisting of his distributive share of partnership gains is not limited to $ 2,000 in his deduction for loss but is entitled, under section 117 (d), Revenue Act of 1936, to deduct $ 2,000 plus such distributive share of partnership gain. Neuberger v. Commissioner, 311 U.S. 83.
Paul L.…
2Cases cited2 opinions
- Neuberger v. CommissionerSupreme Court of the United States · 1940
- Goodbody v. CommissionerUnited States Tax Court · 1943