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KAUFMAN v. COMMISSIONER

Docket No. 17098.

12 T.C. 1114 (1949)

MORGAN S. KAUFMAN, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.

United States Tax Court.

Promulgated June 22, 1949.

Attorney(s) appearing for the Case

Fred L. Rosenbloom, Esq., for the petitioner.

William D. Harris, Esq., for the respondent.

The Commissioner determined a deficiency of $5,363.65 in income tax for 1943. The only issue is whether $4,614.14 expended in 1942 and $37,955.52 expended in 1941 are deductible for those years in computing net loss carry-overs to offset 1943 income.

FINDINGS OF FACT.

The petitioner filed his individual return for 1943 with the collector of internal revenue for the twelfth district of Pennsylvania. He resided at...

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