Harris v. Commissioner

Irma L. Harris, Petitioner, v. Commissioner of Internal Revenue, Respondent. Leila K. Liebman, Petitioner, v. Commissioner of Internal Revenue, Respondent

Harris v. Commissioner

Docket Nos. 5594, 5595

United States Tax Court

5 T.C. 493; 1945 U.S. Tax Ct. LEXIS 117;

July 23, 1945, Promulgated

Decision will be entered for respondent.

Held, on the facts, that the capital losses sustained by the trust are chargeable against corpus and are not deductible from income.

Marion Smith, Esq., and Bertram S. Boley, Esq., for the petitioners.

S. Earl Heilman, Esq., for the respondent.

Hill, Judge.

HILL

OPINION.

These…