Jones Lumber Co. v. Commissioner

Board of Tax Appeals

Jones Lumber Co. v. Commissioner

5 B.T.A. 1159, 1927 BTA LEXIS 3659

United States Board of Tax Appeals·Decided January 25, 1927·No. Docket No. 3275.·Published·Cited by 1 cases

Opinion

[1160] OPINION.

Marquette:

Upon consideration of the evidence herein, we are of the opinion that the debts in question were worthless on December 31, 1921, and that they were ascertained to be worthless and charged off within the year 1921. The petitioner is, therefore, entitled to deduct the amount of the debts in computing its net income for the year 1921.

Judgment will he entered on 15 days' notice, under Bule 50.

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[1160] OPINION.

Marquette:

Upon consideration of the evidence herein, we are of the opinion that the debts in question were worthless on December 31, 1921, and that they were ascertained to be worthless and charged off within the year 1921. The petitioner is, therefore, entitled to deduct the amount of the debts in computing its net income for the year 1921.

Judgment will he entered on 15 days' notice, under Bule 50.

Jones Lumber Co. v. Commissioner, 5 B.T.A. 1159, 1927 BTA LEXIS 3659 (bta 1927).

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Opinion

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