De Reitzes-Marienwert v. Commissioner
United States Tax Court
1. Deductions -- Losses -- Secs. 23 (e) and 117 (j) (2), I. R. C. -- Petitioner since 1934 owned shares in a Czechoslovakian corporation. The Czechoslovakian Government "nationalized" the assets of the corporation by decree in 1945 and further implemented the decree in 1946. Petitioner claimed an ordinary loss in 1946 resulting from this action of the Czechoslovakian Government.
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1. Deductions -- Losses -- Secs. 23 (e) and 117 (j) (2), I. R. C. -- Petitioner since 1934 owned shares in a Czechoslovakian corporation. The Czechoslovakian Government "nationalized" the assets of the corporation by decree in 1945 and further implemented the decree in 1946. Petitioner claimed an ordinary loss in 1946 resulting from this action of the Czechoslovakian Government. Held, if petitioner suffered any loss it was a capital loss and was incurred in 1945 and not 1946. 2. Deductions -- "Interest." -- Petitioner entered a partnership in 1945. His mother was not a member thereof, but…
1Opinion of the Court
OPINION.
Issue No. 1.
Tietjens, Judge:
The petitioner’s argument, in substance, is that the nationalization of Nitra’s properties by the Czechoslovakian Government resulted in a loss to him in 1946 which is deductible in full under the provisions of section 23( e),1 or section 117 (j) (2),2 or section 112 (f)3 of the Internal Revenue Code. The pertinent provisions of these sections are set forth in the margin.
The respondent meets this argument as follows. First, he contends that, assuming a loss was suffered in 1946, the question is moot because the loss was a capital loss and thus limited by…
2Cases cited4 opinions
- United States v. S. S. White Dental Manufacturing Co.Supreme Court of the United States · 1927
- Dorzback v. Collison, Collector of Internal RevenueCourt of Appeals for the Third Circuit · 1952
- Corn Products Refining Co. v. CommissionerUnited States Tax Court · 1951
- Sommers v. Commissioner of Internal RevenueCourt of Appeals for the Second Circuit · 1952
3Cited by18 opinions
- Aldon Homes, Inc. v. CommissionerUnited States Tax Court · 1959
- Portage Plastics Company v. United StatesDistrict Court, W.D. Wisconsin · 1969
- Goldner v. CommissionerUnited States Tax Court · 1956
- Stevens Bros. & Miller-Hutchinson Co. v. CommissionerUnited States Tax Court · 1955
- Herbert P. Weinmann v. United StatesCourt of Appeals for the Second Circuit · 1960
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