Cohn v. United States

The facts in- the case are stipulated. It appears that during the year '1932. plaintiff sold certain stocks and bonds held less than two years which had cost $84,361.25. On some of the securities sold, there .was a profit of $4,147.42; on others, there.was a loss of $21,325.87. When all the sales of stock made by plaintiff in that year were combined, there was a net loss from such sales of $17,178.45. The net loss ' although shown by' the return was not taken as a deduction; but plaintiff, in due time, filed a claim for refund based thereon which was rejected and now brings this suit. There…