Morris v. Commissioner of Internal Revenue

On March 15, 1923, the petitioner filed his income tax return for the calendar year 1922, and, in answer to a question therein, said it was a joint return of husband and wife. In this record be claimed a net loss to Ms wife amounting to $711.63, and took it as a deduction against the ordinary net income of the petitioner. Upon examination by the revenue agent, this loss was converted, into a capital net loss of $3,829.73; the ordinary net ineome amounted to $3,118.09. He offset the wife’s loss from the sale of securities held more than two years against the petitioner’s capital gain and added…