Roberts v. Commissioner
United States Board of Tax Appeals
1. Sale of stock in taxable year held to be bona fide and loss thereon deductible in the taxable year. 2. Where an endorser paid a note in installments in the years 1930, 1931, and the taxable year of 1932, an indebtedness of the principal to such endorser arose at the times of the various payments and constituted a bad debt in each instance, deductible only from the gross income of the respective years in which such payments were made.
1Opinion of the Court
E. A. ROBERTS AND WIFE, PETITIONERS, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
Roberts v. Commissioner
Docket No. 80697.
United States Board of Tax Appeals
36 B.T.A. 549; 1937 BTA LEXIS 694;
September 22, 1937, Promulgated
1. Sale of stock in taxable year held to be bona fide and loss thereon deductible in the taxable year.
2. Where an endorser paid a note in installments in the years 1930, 1931, and the taxable year of 1932, an indebtedness of the principal to such endorser arose at the times of the various payments and constituted a bad debt in each instance, deductible only from the gross…
2Cases cited1 opinion
- Roberts v. CommissionerUnited States Board of Tax Appeals · 1937