Harrington v. Commissioner
United States Board of Tax Appeals
A taxpayer regularly employed on a salary, who made five purchases of securities during 1921 from brokers and one sale of securities at a loss which exceeded his income for 1921, is not entitled to a deduction in his return for 1922 on account thereof under the provisions of section 204 of the Revenue Act of 1921, such loss not resulting from the operation of a business regularly carried on by the taxpayer.
1Opinion of the Court
Appeal of J. J. HARRINGTON.
Harrington v. Commissioner
Docket No. 11.
United States Board of Tax Appeals
1 B.T.A. 11; 1924 BTA LEXIS 280;
October 3, 1924, decided Submitted September 12, 1924.
A taxpayer regularly employed on a salary, who made five purchases of securities during 1921 from brokers and one sale of securities at a loss which exceeded his income for 1921, is not entitled to a deduction in his return for 1922 on account thereof under the provisions of section 204 of the Revenue Act of 1921, such loss not resulting from the operation of a business regularly carried on by the taxpayer.
No…
2Cases cited3 opinions
- Mente v. EisnerCourt of Appeals for the Second Circuit · 1920
- Woods v. LewellynDistrict Court, W.D. Pennsylvania · 1921
- Harrington v. CommissionerUnited States Board of Tax Appeals · 1924