Burton v. Commissioner
United States Board of Tax Appeals
A loss sustained by an individual upon the sale through a broker of stock previously purchased for profit is no less deductible because in a separate transaction his wife buys similar shares through the same broker and finances the purchase on her own account, giving her own note and pledging the shares, the certificates being issued in her name.
1Opinion of the Court
BENJAMIN T. BURTON, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
Burton v. Commissioner
Docket No. 61055.
United States Board of Tax Appeals
28 B.T.A. 1242; 1933 BTA LEXIS 1029;
August 23, 1933, Promulgated
A loss sustained by an individual upon the sale through a broker of stock previously purchased for profit is no less deductible because in a separate transaction his wife buys similar shares through the same broker and finances the purchase on her own account, giving her own note and pledging the shares, the certificates being issued in her name.
Courtland Kelsey, Esq., for the…
2Cases cited1 opinion
- Burton v. CommissionerUnited States Board of Tax Appeals · 1933