Legal Opinion
Bruce v. United States
District Court, S.D. Texas
Decided November 21, 1967No. Civ. A. 66-H-285PublishedCited by 7 opinions
1Opinion of the Court
CONNALLY, Chief Judge.
MEMORANDUM:
The plaintiffs, Homer L. Bruce, Jr. and wife, seek to recover $16,633.49 in federal income taxes paid for the year 1962. In issue is the character of loss— whether capital or ordinary — sustained by plaintiff when stock owned by him in HLB Corporation became worthless during the tax year. The case was submitted largely on stipulated facts and documentary evidence, the only oral testimony being that of the plaintiff.
HLB Corporation was organized in 1960 under the Texas Business Corporation Act. Its authorized capital stock was 10,000 shares of common stock at a…
2Cases cited2 opinions
- Morgan v. CommissionerUnited States Tax Court · 1966
- Warner v. CommissionerUnited States Tax Court · 1967
3Cited by7 opinions
- Edwin C. Hollenbeck and Kathryn J. Hollenbeck, Wade G. Ellis and Anita l.ellis v. Commissioner of Internal RevenueCourt of Appeals for the Ninth Circuit · 1970
- Hill v. CommissionerUnited States Tax Court · 1969
- Henry A. Childs and Carol M. Childs v. Commissioner of Internal RevenueCourt of Appeals for the Third Circuit · 1969
- Elmer W. Anderson and Margaret P. Anderson v. United StatesCourt of Appeals for the Tenth Circuit · 1971
- Homer L. Bruce Et Ux. v. United StatesCourt of Appeals for the Fifth Circuit · 1969
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