Lang v. Commissioner

JOHN H. LANG, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.

Lang v. Commissioner

Docket No. 14370.

United States Board of Tax Appeals

12 B.T.A. 435; 1928 BTA LEXIS 3527;

June 7, 1928, Promulgated

Held, that the petitioner is entitled to a deduction in 1924 on account of stock becoming wholly worthless in that year.

Phillip Katz, Esq., for the petitioner.

Bruce A. Low, Esq., for the respondent.

TRAMMELL

TRAMMELL: This is a proceeding for the redetermination of a deficiency in income tax for 1924 in the amount of $433.35. The deficiency arises from the action of the respondent in…