Case Name: James A. Weaver, Petitioner, v. Commissioner of Internal Revenue, Respondent
Court: United States Board of Tax Appeals
Jurisdiction: United States
Decision Date: 1927-10-22
Citations: 8 B.T.A. 943
Docket Number: Docket No. 8488
Parties: James A. Weaver, Petitioner, v. Commissioner of Internal Revenue, Respondent.
Judges: Considered by Sternhagen and AR undell.
Reporter: Reports of the United States Board of Tax Appeals
Volume: 8
Pages: 943–945

Head Matter:
James A. Weaver, Petitioner, v. Commissioner of Internal Revenue, Respondent.
Docket No. 8488.
Promulgated October 22, 1927.
Frank J. ATbus, Esq., for the petitioner.
P. J. Rose, Esq., for the respondent.

Opinion:
OPINION.
Lansdon :
The petitioner testified that in December, 1919, he considered his stock in the Fort Worth Lead & Zinc Co. absolutely worthless, and therefore deducted the cost thereof from the gross income shown by his tax return for that year. The Commissioner disallowed the deduction. The evidence indicates clearly that the stock had no value at December 31, 1919. Henry M. Jones v. Commissioner, 4 B. T. A. 1286; Harry H. DeLoss v. Commissioner, 6 B. T. A. 784.
Judgment of no deficiency will be entered for the 'petitioner.
Considered by Sternhagen and AR undell.