Schiffer v. Commissioner

JACK W. SCHIFFER, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.

Schiffer v. Commissioner

Docket No. 83249.

United States Board of Tax Appeals

39 B.T.A. 161; 1939 BTA LEXIS 1063;

January 20, 1939, Promulgated

Certain shares of stock held for more than two years and sold in 1933 were held by a partnership primarily for sale in the course of its business of trading in securities for a profit.

Walter H. Liebman, Esq., for the petitioner.

S. L. Young, Esq., for the respondent.

MURDOCK

The Commissioner determined a deficiency of $33.34 in the petitioner's income tax for the calendar year 1933.…