Clark v. Welch

MAHONEY, Circuit Judge.

The taxpayer brought this suit to recover $4,984.27, alleged overpayment of income taxes for 1936. In her return she failed to claim a deduction of $13,413.12, the cost to her of two hundred shares of participating preference stock of International Match Corporation which she alleges became worthless in 1936. The Collector contended that the stock became worthless prior to 1936. The jury in its special verdict determined this participating preference stock did not become worthless during the year 1936 so as to entitle the plaintiff to a deduction because of loss on said…