Legal Opinion
Dunne v. Commissioner
Court of Appeals for the Second Circuit
Decided February 18, 1935No. 86PublishedCited by 5 opinions
1Opinion of the Court
SWAN, Circuit Judge.
For the year 1927 the petitioner filed an income tax return in which he claimed a deduction of nearly $400,000 as a loss sustained on the sale of securities through several stock brokerage accounts in which he had a one-third interest. The Commissioner disallowed this deduction, and the Board of Tax Appeals affirmed his action and determined a deficiency. The propriety of disallowing the claimed deduction is the only substantial question presented.
The petitioner and two friends had equal interests in four stock-trading accounts which were opened in 1919 at the suggestion…
2Cases cited4 opinions
- Weiss v. WeinerSupreme Court of the United States · 1929
- Johnson, Drake & Piper, Inc. v. HelveringCourt of Appeals for the Eighth Circuit · 1934
- Webb v. Commissioner of Internal RevenueCourt of Appeals for the Second Circuit · 1933
- Cedar Park Cemetery Ass'n v. CommissionerCourt of Appeals for the Seventh Circuit · 1933
3Cited by5 opinions
- Barber v. Commissioner of Internal RevenueCourt of Appeals for the Second Circuit · 1946
- Johnson v. CommissionerUnited States Tax Court · 1976
- Foley v. Commissioner of Internal RevenueCourt of Appeals for the Third Circuit · 1938
- Brooks v. Comm'rUnited States Tax Court · 2013
- Johnson v. CommissionerUnited States Tax Court · 1976