Legal Opinion
De Loss v. Commissioner of Internal Revenue
Court of Appeals for the Second Circuit
Decided October 29, 1928No. 5PublishedCited by 60 opinions
1Opinion of the CourtL. Hand, Circuit Judge
(after stating the facts as above).
The question is whether the petitioner was entitled in 1921 to deduct a loss estimated by the difference between the cost of his shares sold in that year and the sale price, which was nothing. If the loss was then sustained, he might do this; otherwise, not, for the statute of 1921 (section 214 (a) (4), 42 Stat. 239), like its predecessor of 1918, allowed the deduction only of “losses sustained during the taxable year.” The petitioner, acknowledging this, maintains that by virtue of section 202 (a), 42 Stat. 229, he might always establish Ids loss by a sale,…
2Cases cited6 opinions
- Eisner v. MacOmberSupreme Court of the United States · 1920
- Eisner, Internal Revenue Collector v. MacOmberSupreme Court of the United States · 1919
- United States v. S. S. White Dental Manufacturing Co.Supreme Court of the United States · 1927
- Miles v. Safe Deposit & Trust Co. of BaltimoreSupreme Court of the United States · 1922
- New York Life Insurance v. EdwardsSupreme Court of the United States · 1926
1 more not listed; retrieve them via the Exa API.
3Cited by60 opinions
- Morton v. Commissioner of Internal RevenueCourt of Appeals for the Seventh Circuit · 1940
- Schmidlapp v. Commissioner of Internal RevenueCourt of Appeals for the Second Circuit · 1938
- Mahler v. Commissioner of Internal RevenueCourt of Appeals for the Second Circuit · 1941
- Gowen v. Commissioner of Internal RevenueCourt of Appeals for the Sixth Circuit · 1933
- Commissioner of Internal Revenue v. FreihoferCourt of Appeals for the Third Circuit · 1939
55 more not listed; retrieve them via the Exa API.