Marks v. United States

MANDELBAUM, District Judge.

This suit was instituted to recover $9,-248.41 with interest, an alleged overpayment of plaintiff’s income tax for the year 1929. This constitutes plaintiff’s first cause of action (a second cause of action pleaded in this complaint was withdrawn during trial).

The evidence together with the exhibits revealed the following: The plaintiff sold one-fourth of an additional membership in the New York Stock Exchange in 1929 for the sum of $120,000; the cost price was $19,920; the net cash gain on the transaction therefore being $100,080. The plaintiff reported this…