Cappon v. Commissioner

OPINION.

McMahon:

This is a proceeding for the redetermination of an asserted deficiency in income tax for the year 1928 in the amount of $263.24.

It is alleged by the petitioner that the respondent erred in disallowing as a deduction from gross income the sum of $2,036.75 representing an insurance premium paid by the petitioner on a policy covering the life of the president and manager of a corporation.

The petitioner is an individual, residing in Milwaukee, Wisconsin.

The parties entered into a stipulation as follows:

1. Mary E. Cappon, the petitioner, is the widow of Jesse Cappon, who at the…