Good v. Commissioner

John E. Good, Petitioner, v. Commissioner of Internal Revenue, Respondent

Good v. Commissioner

Docket No. 24552

United States Tax Court

16 T.C. 906; 1951 U.S. Tax Ct. LEXIS 212;

April 26, 1951, Promulgated

Decision will be entered for petitioner.

Held, since petitioner was using the property in question in a trade or business, the loss from its sale in 1944 is deductible in full under section 23 (e) of the Internal Revenue Code.

Oliver M. Jamison, Esq., for the petitioner.

Robert G. Harless, Esq., for the respondent.

Hill, Judge.

HILL

The respondent determined a deficiency in petitioner's income tax…