Strouse v. Commissioner

ELI STROUSE, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.

Strouse v. Commissioner

Docket No. 36273.

United States Board of Tax Appeals

24 B.T.A. 748; 1931 BTA LEXIS 1605;

November 11, 1931, Promulgated

Ernest E. Wooden, C.P.A., for the petitioner.

Eugene Harpole, Esq., and Edwin M. Niess, Esq., for the respondent.

SMITH

This proceeding involves a proposed deficiency in income tax for the calendar year 1924 of $1,421.17. The petitioner alleges that the respondent erred in disallowing a deduction of $135,797.96 claimed as a net loss sustained in 1923.

FINDINGS OF FACT.

The petitioner was a…