Sweinhart v. Commissioner
United States Board of Tax Appeals
On the facts of the case, held, petitioner suffered a loss upon the settlement of his contract under the order and the decree of the court, due to the insolvency of the estate and its inability to meet its obligation to him.
1Opinion of the Court
OPINION.
Adams :
This proceeding involves a deficiency of $235.79 in income tax for the calendar year 1928. The issue presented is whether respondent erred in disallowing a deduction of $3,239.
The facts are stipulated substantially as follows:
The petitioner, during tbe year 1928, derived income from bis employment as reporter on tbe staff of tbe Detroit News and also from the sale of capital stock. His principal income, however, was in tbe form of dividends on stock of domestic corporations.
The petitioner’s return was made on the basis of actual cash receipts and disbursements.
On August 31,…
2Cases cited7 opinions
- Schick v. CommissionerUnited States Board of Tax Appeals · 1931
- Hill v. CommissionerUnited States Board of Tax Appeals · 1927
- Pacific Novelty Co. v. CommissionerUnited States Board of Tax Appeals · 1927
- North American Oil Consolidated v. CommissionerUnited States Board of Tax Appeals · 1928
- Chestnut Farms Dairy, Inc. v. CommissionerUnited States Board of Tax Appeals · 1930
2 more not listed; retrieve them via the Exa API.
3Cited by2 opinions
- Fulton Gold Corp. v. CommissionerUnited States Board of Tax Appeals · 1934
- Sweinhart v. CommissionerUnited States Board of Tax Appeals · 1934