Case ID: bta_13/html/1352-01.html
Source: Caselaw Access Project
Author: {"author": "Marquette :", "license": "Public Domain", "url": "https://static.case.law/"}
Date Created: 2024-08-24T03:29:51.129683

E. S. Hass, Petitioner, v. Commissioner of Internal Revenue, Respondent.
    Docket No. 14817.
    Promulgated November 1, 1928.
    
      Ralph KohFmeier, Esq., for the petitioner.
    
      Shelby S. Faulkner, Esq., for the respondent.
   OPINION.

Marquette :

We are satisfied that the petitioner acquired and operated his ranches with a view to profit and that he expended thereon during the year 1921 the amount of $3,006.32, which he is entitled to deduct in computing his net income for that year. The evidence also convinces us that the petitioner sustained a loss of $800 from the sale of the hardware business which he purchased, or agreed to purchase from Meyers, and that he is entitled to a deduction in that amount.

Judgment will he entered under Rule 50.