Rissman v. Commissioner
United States Tax Court
1. The ownership of certain stock in three separate corporations and the basis thereof to petitioner under the statutes which are applicable for purposes of computing a net long term capital loss from the sale of such stock in the taxable year 1941, are determined from the evidence. 2. Upon the evidence, held, petitioner has failed to prove any error in the disallowance by the respondent of a certain expense item.
1Opinion of the Court
OPINION.
Black, Judge-.
The two issues presented in this proceeding are (1) whether the respondent erred in disallowing an aggregate of $35,669.06 or any part thereof claimed by petitioner as a net long term capital loss from the sale in 1941 of certain shares of stock in three separate corporations, and (2) whether the respondent erred in disallowing $1,100 of the $1,767.73 claimed by petitioner as deductible expenses.
Issue (I). The manner in which petitioner computed the claimed loss aggregating $35,669.06 in schedule F of his return has been set out in our findings. The respondent disallowed…
2Cases cited3 opinions
- Helvering v. American Dental Co.Supreme Court of the United States · 1943
- General Utilities & Operating Co. v. HelveringSupreme Court of the United States · 1935
- Commissioner of Internal Revenue v. Auto Strop Safety Razor Co., Inc.Court of Appeals for the Second Circuit · 1934
3Cited by9 opinions
- Graham v. CommissionerUnited States Tax Court · 1982
- Big Four Oil & Gas Co. v. CommissionerUnited States Tax Court · 1957
- Estate of Kamm v. CommissionerUnited States Tax Court · 1963
- Peebles v. CommissionerUnited States Tax Court · 1956
- Big Four Oil & Gas Co. v. CommissionerUnited States Tax Court · 1957
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