Shapiro v. Commissioner
United States Board of Tax Appeals
The petitioner, a resident of Massachusetts, borrowed certain sums of money from his wife, also a resident of Massachusetts, agreeing to repay the sums borrowed and also to pay her interest thereon. The agreement was subsequently evidenced by an interest-bearing promissory note given by the petitioner to his wife.
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The petitioner, a resident of Massachusetts, borrowed certain sums of money from his wife, also a resident of Massachusetts, agreeing to repay the sums borrowed and also to pay her interest thereon. The agreement was subsequently evidenced by an interest-bearing promissory note given by the petitioner to his wife. Held, that the interest paid during the taxable year by the petitioner to his wife pursuant to their agreement is an allowable deduction in determining his net income.
1Opinion of the Court
SAMUEL SHAPIRO, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
Shapiro v. Commissioner
Docket No. 65158.
United States Board of Tax Appeals
29 B.T.A. 1012; 1934 BTA LEXIS 1445;
February 2, 1934, Promulgated
The petitioner, a resident of Massachusetts, borrowed certain sums of money from his wife, also a resident of Massachusetts, agreeing to repay the sums borrowed and also to pay her interest thereon. The agreement was subsequently evidenced by an interest-bearing promissory note given by the petitioner to his wife. Held, that the interest paid during the taxable year by the…
2Cases cited1 opinion
- Shapiro v. CommissionerUnited States Board of Tax Appeals · 1934