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FAIDLEY v. COMMISSIONER

Docket No. 3531.

8 T.C. 1170 (1947)

LLOYD H. FAIDLEY, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.

United States Tax Court.

Promulgated June 11, 1947.

Attorney(s) appearing for the Case

Don W. Stewart, Esq., for the petitioner.

Richard A. Jennings, Esq., for the respondent.

This case arises on respondent's determination of a deficiency of $8,349.43 in petitioner's income tax for the year 1941. Petitioner's return was filed with the collector of internal revenue for the district of Nebraska. The questions raised are whether the recoupment by the petitioner in 1941 of a loss of $22,500, which he had deducted in his return for 1930, is includible in income of 1941 and, if so, whether it is taxable as a...

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