Case ID: bta_3/html/0425-01.html
Source: Caselaw Access Project
Author: {"author": "", "license": "Public Domain", "url": "https://static.case.law/"}
Date Created: 2024-08-24T03:29:51.129683

Appeal of DAVID S. GOLDSTEIN.
    Docket No. 5161.
    Submitted November 24, 1925.
    Decided January 21, 1926.
    
      M. Manning Marcus, Esq., for the taxpayer.
    
      L. 0. Mitchell, Esq., for the Commissioner.
    Before Gratjpner, TRAmmell, and Phillips.
    Taxpayer appeals from the determination ©f a deficiency of $2,447.29 income tax for 1919, and alleges three errors:
    1. That salary received by the taxpayer from the Goldstein Neumann Co. has been overstated by $2,200;
    2. That the amount realized from the sale by taxpayer in 1919 of stock of the Goldstein-Neumann Co. has been overstated by $4,043.46; and
    3. That the cost of such stock to the taxpayer was determined at $32,834.05, instead of $49,600, as claimed by taxpayer.
    The testimony of the taxpayer with reference to the cost to him of the stock sold in 1919 is conflicting and unsatisfactory. It is impossible to make any findings of fact therefrom.
    FINDINGS OP FACT.
    In June, 1919, taxpayer sold 248 shares of the capital stock of Goldstein-Neumann Co. for a total consideration of $43,000. During 1919 taxpayer received salary from the Goldstein-Neumann Co. of $2,325.
   DECISION.

The determination by the Commissioner of the cost of the stock is approved. The deficiency should be computed in accordance with the foregoing findings of fact. Final determination will be settled on 10 days’ notice, under Bule 50.