Warren v. Commissioner of Internal Revenue

MAGRUDER, Chief Judge.

The executors of the estate of Bentley W. Warren seek review of the Tax 'Court’s determination that their decedent’s income tax for 1944 was deficient in the amount of $5287.84. The dispute is whether taxpayer had a gain or a loss upon the sale of certain securities in that year. It is a highly technical matter of applying the statutory language, with no broad equitable considerations pointing either way, so far as we can see.

At various times between February 20, 1919, and February 19, 1926, at a total cost of $21,231.25, decedent purchased 578 shares of the preferred…