Rankin v. Commissioner

DICKINSON, District Judge.

This is a second review raising precisely the same' question before raised. It concerns the proper assessment of income taxes and the propriety of the determination of a deficiency tax found by the Commissioner and the United States Board of Tax Appeals in the sum of $11,-173.05 for the year 1928.

The question raised grows out of the finding of gain on the sale in 1928 of 1,300 shares of U. G. I. Company stock. Gains made through the purchase and sale of shares of stock are of course income. What the gain has been is measured by the difference between the price at…