Wesch v. Helburn

DAWSON, District Judge.

The sole question in this ease is whether or not the investment of Gustave A. Y/eseh, the deceased taxpayer, in BaneoKentueky stock was a deductible loss for income tax purposes for the taxable year 1930, under section 23 (e) of the Revenue Act'of 1928, 26 USCA § 2023 (e). This section provides that in computing net income there shall be allowed as deductions, in the case of an individual, losses sustained during the taxable year and not compensated for by insurance or otherwise, if incurred in trade or business, or if incurred in any transaction entered into for…