DeBlois v. Commissioner

*1147OPINION.

Sternhagen:

The Commissioner has treated the situation disclosed by the foregoing facts as governed by section 202 (b) of the Revenue Act of 1918, and has disallowed the deduction taken by the decedent. Section 202 is as follows:

Sec. 202. (a) That for the purpose of ascertaining- the gain derived or loss sustained from the sale or other disposition of property, real, personal, or mixed, the basis shall be—(1) In the case of property acquired before March 1, 1913, the fair market price or value of such property as of that date; and(2) In the case of property acquired on or after that…