Bovard v. Commissioner

*547OPINION.

Lansdon:

The original petitioner acquired 3,038 acres of coal in 1905,1906, and 1907, at an average cost of $727.18 per acre. The total cost of the two separate tracts acquired in 1906 and 1907 was $125,-022.43, and the undepleted coal therein was sold in the taxable year for $46,219.14. The only question submitted to the Board is whether the loss sustained by the sale in the taxable year shall be computed on the basis of the residual cost per acre of the entire tract of 3,038 acres or of the residual cost of the two tracts separately purchased in 1906 and 1907. The parties agree that…