Case Name: Appeal of NATHAN KONIGSBERG
Court: United States Board of Tax Appeals
Jurisdiction: United States
Decision Date: 1926-09-25
Citations: 4 B.T.A. 1027
Docket Number: Docket No. 6016
Parties: Appeal of NATHAN KONIGSBERG.
Judges: 
Reporter: Reports of the United States Board of Tax Appeals
Volume: 4
Pages: 1027–1027

Head Matter:
Appeal of NATHAN KONIGSBERG.
Docket No. 6016.
Decided September 25, 1926.
Meyer Bernstein, G. P. A., for the petitioner.
D. D. Shepard, Esq., for the Commissioner.

Opinion:
SteRnhagen:
The Commissioner disallowed the petitioner's deduction of an alleged loss of $17,300 sustained in the sale in 1919 of securities, the disallowance being based on the petitioner's failure to supply the Commissioner with sufficient proof of loss. The Commissioner determined a deficiency of $7,739.58 income tax.
FINDINGS OF FACT.
During 1919 petitioner bought and sold stocks on margin. Among others, he bought 1,000 shares of V. Vivaudou, Inc., in September 1919, for $31 a share and sold them in December, 1919, for $21 a share, thereby sustaining a loss of $10,000. In September, 1919, he bought 400 shares of Transcontinental Oil for $60 a share and sold them in December, 1919, for $40 a share, thereby sustaining a loss of $8,000.
Judgment for the petitioner.