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SPROTT v. COMMISSIONER

Docket Nos. 32340, 32341.

12 T.C.M. 165 (1953)

Bearl Sprott v. Commissioner. Gertrude Cole Sprott v. Commissioner.

United States Tax Court.

Entered February 17, 1953.

Attorney(s) appearing for the Case

Arthur Livingston, Esq., for the petitioners. Francis P. Campbell, Jr., Esq., for the respondent.

Memorandum Findings of Fact and Opinion

The Commissioner determined deficiencies in income tax for 1947 of $5,302.29 against Bearl and of $5,378.28 against Gertrude Cole Sprott. The only issue for decision is whether the Commissioner erred in failing to allow each petitioner a net operating loss carry-back from his 1949 business activities in the amount of $13,906.07 which would entitle each to a net operating loss deduction of $12,906.07 applicable to 1947.

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