Appleby v. United States

LITTLETON, Judge.

The plaintiffs in this suit seek to recover $4,777.67, plus interest, alleged overpayment of joint individual income tax for the calendar year 1944 occasioned by the carry-back of a net operating loss incurred in 1946. The fact of plaintiffs’ loss in 1946 is not contested; the issue presented is whether the particular loss claimed as a “carry-back” was “attributable to the operation of a trade or business regularly carried on by the taxpayer” and allowable as a carry-back under Sections 23 (s) and 122 <of the Internal Revenue Code.1

Plaintiffs,2 residents of New York City,…