Cunningham v. Commissioner
United States Tax Court
Deduction -- Net Operating Loss -- Income not Derived from Business -- Joint Return -- Wife's Salary -- Sections 23 (s) and 122 (d) (5). -- A wife's salary from her husband's business reported on a joint return is not "gross income not derived from such trade or business" in computing the net operating loss of the business under section 122 and the applicable sections of Regulations 111, and can not be offset by nonbusiness deductions.
1Opinion of the Court
James H. Cunningham, Petitioner, v. Commissioner of Internal Revenue, Respondent
Cunningham v. Commissioner
Docket No. 34426
United States Tax Court
20 T.C. 65; 1953 U.S. Tax Ct. LEXIS 196;
April 13, 1953, Promulgated
Decision will be entered for the respondent.
Deduction -- Net Operating Loss -- Income not Derived from Business -- Joint Return -- Wife's Salary -- Sections 23 (s) and 122 (d) (5). -- A wife's salary from her husband's business reported on a joint return is not "gross income not derived from such trade or business" in computing the net operating loss of the business under section 122…
2Cases cited1 opinion
- Cunningham v. CommissionerUnited States Tax Court · 1953