Lang v. Commissioner

Trammell:

This is a proceeding for the redetermination of a deficiency in income tax for 1924 in the amount of $433.35. The deficiency arises from the action of the respondent in disallowing a deduction claimed in the amount of $9,000 on account of losses alleged to have been sustained by the petitioner during 1924 in the purchase of stock in the corporation.

ITNDINGS OJT PACT.

The petitioner is a resident of New York City. Commencing in the month of February, 1924, and ending in the month of August, 1924, the petitioner purchased stock in the American Repertoire Theatre Co., Inc., a New York…