Hass v. Commissioner

Board of Tax Appeals

Hass v. Commissioner

13 B.T.A. 1352, 1928 BTA LEXIS 3059

United States Board of Tax Appeals·Decided November 1, 1928·No. Docket No. 14817.·Published·Cited by 1 cases

Opinion

[1353] OPINION.

Marquette :

We are satisfied that the petitioner acquired and operated his ranches with a view to profit and that he expended thereon during the year 1921 the amount of $3,006.32, which he is entitled to deduct in computing his net income for that year. The evidence also convinces us that the petitioner sustained a loss of $800 from the sale of the hardware business which he purchased, [1354] or agreed to purchase from Meyers, and that he is entitled to a deduction in that amount.

Judgment will he entered under Rule 50.

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[1353] OPINION.

Marquette :

We are satisfied that the petitioner acquired and operated his ranches with a view to profit and that he expended thereon during the year 1921 the amount of $3,006.32, which he is entitled to deduct in computing his net income for that year. The evidence also convinces us that the petitioner sustained a loss of $800 from the sale of the hardware business which he purchased, [1354] or agreed to purchase from Meyers, and that he is entitled to a deduction in that amount.

Judgment will he entered under Rule 50.

Hass v. Commissioner, 13 B.T.A. 1352, 1928 BTA LEXIS 3059 (bta 1928).

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Opinion

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