Fraser v. Commissioner
United States Board of Tax Appeals
1. Carrying charges for a period prior to March 1, 1913, may not be added to cost of property acquired prior thereto in determining cost or other basis for computing gain or loss on sale of the property. 2. The depreciated March 1, 1913, value of property acquired prior thereto, determined, and, being in excess of cost, held, basis for determining gain on sale.
1Opinion of the Court
ARTHUR C. FRASER, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
Fraser v. Commissioner
Docket No. 6495.
United States Board of Tax Appeals
6 B.T.A. 346; 1927 BTA LEXIS 3537;
February 28, 1927, Promulgated
1. Carrying charges for a period prior to March 1, 1913, may not be added to cost of property acquired prior thereto in determining cost or other basis for computing gain or loss on sale of the property.
2. The depreciated March 1, 1913, value of property acquired prior thereto, determined, and, being in excess of cost, held, basis for determining gain on sale.
Arthur C. Fraser pro se.
2Cases cited1 opinion
- Fraser v. CommissionerUnited States Board of Tax Appeals · 1927