Hotz v. Commissioner
United States Board of Tax Appeals
A taxpayer with others as joint venturers purchased a farm subject to mortgage; after the mortgagee had bid in the property at a foreclosure sale and during the period of redemption the taxpayer paid the redemption money to the mortgagee, received the Master's certificate, and after expiration of the redemption period in 1936 received a deed from the Master. Held, the taxpayer is not entitled to a loss deduction in 1936.
1Opinion of the Court
FERDINAND HOTZ AND CLOTHILDE HOTZ, PETITIONERS, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
Hotz v. Commissioner
Docket No. 97075.
United States Board of Tax Appeals
42 B.T.A. 432; 1940 BTA LEXIS 1005;
July 24, 1940, Promulgated
A taxpayer with others as joint venturers purchased a farm subject to mortgage; after the mortgagee had bid in the property at a foreclosure sale and during the period of redemption the taxpayer paid the redemption money to the mortgagee, received the Master's certificate, and after expiration of the redemption period in 1936 received a deed from the Master. Held, the…
2Cases cited1 opinion
- Hotz v. CommissionerUnited States Board of Tax Appeals · 1940