Sass v. Commissioner

*157OPINION.

Trttsstct.t, :

The only issue raised in this proceeding is whether petitioner is entitled to a deduction as a loss in 1919 of the amount of $24,153.12 which he was called upon by the bank to pay as guarantor of certain loans made by the bank through the efforts of petitioner.

The definition of the noun “ loss ” as given in Webster’s Dictionary is, “Act or fact of suffering deprivation; failure to keep a posses*158sion; esp., the unintentional parting with something of value; * * See also the cases of Hawaiian Commercial & Sugar Co., Ltd. v. Tax Assessor, 14 Hawaii, 601, and Queenan v.…