Gender v. State Tax Commission

Edward H. Howell, Judge.

Plaintiffs’ petition for an income tax refund for 1960 was denied by the tax commission and plaintiffs appealed to this court.

In 1960 plaintiffs demolished a business building in Portland in order to construct a new building. The old building had a remaining net book value of $23,000. Instead of deducting the $23,000 in 1960 as a demolition loss the plaintiffs erroneously attempted to spread the loss over a five-year period. In December, 1965, the Internal Revenue Service refused to allow the plaintiffs to amortize the loss and held that the plaintiffs should have…