Byrum v. Commissioner
United States Tax Court
Held, petitioners established a prima facie case that their stock in Chappell Securities Corp. became worthless in 1967. They are entitled, under sec. 165, I.R.C. 1954, to a capital loss deduction for 1967 and a carryover of such deduction for 1968.
1Opinion of the Court
Paul J. Byrum and Evelyn J. Byrum, Petitioners v. Commissioner of Internal Revenue, Respondent
Byrum v. Commissioner
Docket No. 1435-71
United States Tax Court
58 T.C. 731; 1972 U.S. Tax Ct. LEXIS 80;
August 1, 1972, Filed
Decision will be entered under Rule 50.
Held, petitioners established a prima facie case that their stock in Chappell Securities Corp. became worthless in 1967. They are entitled, under sec. 165, I.R.C. 1954, to a capital loss deduction for 1967 and a carryover of such deduction for 1968.
Daniel S. Davisson, for the petitioners.
Robert G. Martinell, for the respondent.
Featherston,…
2Cases cited6 opinions
- Boehm v. CommissionerSupreme Court of the United States · 1945
- Morton v. CommissionerUnited States Board of Tax Appeals · 1938
- Morton v. Commissioner of Internal RevenueCourt of Appeals for the Seventh Circuit · 1940
- Andrew v. CommissionerUnited States Tax Court · 1970
- Blair v. Commissioner of Internal RevenueCourt of Appeals for the Second Circuit · 1937
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