The Commissioner has determined a deficiency of $14,563.92 in petitioner's income tax for the year 1944. The deficiency is due to an adjustment made by the Commissioner to the net income reported by petitioner on his return. This adjustment was "(a) Capital gain $28,287.84," and is explained in the deficiency notice as follows:
(a) In your individual income tax return for the calendar year 1944 you deducted $1,000.00 as the limitation on capital losses under section...
Let's get started
Welcome to the leading source of independent legal reporting
Sign on now to see your case.
Or view more than 10 million decisions and orders.
- Updated daily.
- Uncompromising quality.
- Complete, Accurate, Current.