Legal Opinion
Omaha Nat. Bank v. Commissioner of Internal Revenue
Court of Appeals for the Eighth Circuit
Decided August 17, 1950No. 14058PublishedCited by 45 opinions
1Opinion of the Court
THOMAS, Circuit Judge.
In his income tax return for 1944, L(odowick) F. Crofoot (since deceased) claimed a deduction in the amount of $10,407.90 for losses from business bad debts incurred in his trade or business under § 23(k)(l) 26 U.S.C.A. § 23(k)(l) of the Internal Revenue Code. The Commissioner disallowed the deduction on the ground that the losses claimed were non-business bad debts deductible as short-term capital losses under § 23 (k) (4) of the Internal Revenue Code and determined a deficiency for the year 1944 in the amount of $4,520.68. Upon appeal to the Tax Court of the United…
2Cases cited16 opinions
- New Colonial Ice Co. v. HelveringSupreme Court of the United States · 1934
- Deputy, Administratrix v. Du PontSupreme Court of the United States · 1940
- Interstate Transit Lines v. CommissionerSupreme Court of the United States · 1943
- Burnet v. ClarkSupreme Court of the United States · 1932
- Burnet v. Commonwealth Improvement Co.Supreme Court of the United States · 1932
11 more not listed; retrieve them via the Exa API.
3Cited by45 opinions
- John M. Trent and Lisa M. Trent v. Commissioner of Internal RevenueCourt of Appeals for the Second Circuit · 1961
- Boissevain v. CommissionerUnited States Tax Court · 1951
- Towers v. CommissionerUnited States Tax Court · 1955
- Parker v. CommissionerCourt of Appeals for the Eighth Circuit · 1966
- Dwight A. Ward v. Commissioner of Internal Revenue, Hanna P. Ward v. Commissioner of Internal RevenueCourt of Appeals for the Ninth Circuit · 1955
40 more not listed; retrieve them via the Exa API.