Wallingford v. Commissioner
United States Board of Tax Appeals
Petitioners formed a partnership in 1920 and took over cattle at their cost to a predecessor partnership. Held, the petitioners may reflect in their 1920 returns the decrease in the value of the cattle which occurred subsequent to their acquisition in 1920.
1Opinion of the Court
APPEALS OF ELMER R. WALLINGFORD AND C. A. WALLINGFORD.
Wallingford v. Commissioner
Docket Nos. 230, 231.
United States Board of Tax Appeals
4 B.T.A. 634; 1926 BTA LEXIS 2236;
July 31, 1926, Decided
Petitioners formed a partnership in 1920 and took over cattle at their cost to a predecessor partnership. Held, the petitioners may reflect in their 1920 returns the decrease in the value of the cattle which occurred subsequent to their acquisition in 1920.
Stanley Spurrier, C.P.A., for the petitioners.
A. H. Fast, Esq., for the Commissioner.
ARUNDELL
These appeals are from determinations of deficiencies in…
2Cases cited1 opinion
- Wallingford v. CommissionerUnited States Board of Tax Appeals · 1926