Wilkinson v. United States

DANIEL HOLCOMBE THOMAS, District Judge.

This is an action by husband and wife for recovery of federal income taxes allegedly erroneously paid for the year 1947. There are two aspects of the law suit. One poses the question of whether the loss incurred by plaintiff George C. Wilkinson upon the disposition of his interest in the partnership known as “Fro-Zit Foods Company”, was an ordinary loss or a capital loss. The other aspect presents the problem of whether amounts withheld by the First National Bank of Mobile and credited to “Dealer Reserve” accounts on automobile sales financing…