Wilson v. Commissioner
This text of 15 B.T.A. 536 (Wilson v. Commissioner) is published on Counsel Stack Legal Research, covering United States Board of Tax Appeals primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
Opinion
The petitioner appeals from the determination of deficiencies in income tax of $2,808.56 for 1920, $202.92 for 1922, $681.76 for 1923, and $174.68 for 1924. The only error alleged is the refusal of the Commissioner to allow a deduction in 1920 of a loss alleged to have been sustained on the sale of stock of Nick-a-Jack Hosiery Mills,
FINDINGS OP PACT.
In the years 1918 to 1920, inclusive, the petitioner purchased 90 shares of the capital stock of Nick-a-Jack Hosiery Mills at a cost of $13,800. On November 29, 1920, he sold such stock for $2,000. In computing the deficiency for 1920 the Commissioner failed to allow any deduction for the loss sustained on such sale.
Decision will he entered for the petitioner under Rule 60 as to the year 1920 and for the respondent as to the years 1922,1923, and 1924.
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Cite This Page — Counsel Stack
15 B.T.A. 536, 1929 BTA LEXIS 2832, Counsel Stack Legal Research, https://law.counselstack.com/opinion/wilson-v-commissioner-bta-1929.