Anthony v. Commissioner

E. D. ANTHONY, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.

Anthony v. Commissioner

Docket No. 38607.

United States Board of Tax Appeals

20 B.T.A. 5; 1930 BTA LEXIS 2219;

June 2, 1930, Promulgated

Loss sustained by the petitioner in 1923 is a "net loss" deductible in computing net income for 1924.

Clair Groover, Esq., for the petitioner.

Arthur H. Murray, Esq., for the respondent.

ARUNDELL

This proceeding is for the redetermination of a deficiency in income tax for the year 1924 in the amount of $52.07. The issue is whether a loss sustained in 1923 is deductible as a net business loss…