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ELEK v. COMMISSIONER

Docket No. 65092.

30 T.C. 731 (1958)

PETER S. ELEK, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.

United States Tax Court.

Filed June 26, 1958.

Attorney(s) appearing for the Case

Isidore I. Tucker, Esq., for the petitioner.

Norman L. Rapkin, Esq., for the respondent.

TIETJENS, Judge:

The respondent determined deficiencies in income tax of 83 cents for 1953 and $496 for 1954. The sole issue is whether the petitioner is entitled to a net operating loss carryover deduction for these years based upon a loss sustained in 1952 due to nationalization by the Hungarian Government of rental property of the petitioner.

Some facts are stipulated.

FINDINGS OF FACT.

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