Case Name: Appeal of WILLIAM C. SAMPSON
Court: United States Board of Tax Appeals
Jurisdiction: United States
Decision Date: 1924-11-18
Citations: 1 B.T.A. 73
Docket Number: Docket No. 304
Parties: Appeal of WILLIAM C. SAMPSON.
Judges: Before Graupner, Lansdon, Littleton, and Smith.
Reporter: Reports of the United States Board of Tax Appeals
Volume: 1
Pages: 73–75

Head Matter:
Appeal of WILLIAM C. SAMPSON.
Docket No. 304.
Submitted October 31,1924;
decided November 18, 1924.
Mr. Wm. O. Sampson, the taxpayer, on his own behalf.
J. D. Foley, Esq. (Nelson T. Hartson, Solicitor of Internal Revenue) for the Commissioner.
Before Graupner, Lansdon, Littleton, and Smith.

Opinion:
DECISION.
The taxpayer is entitled to deduct from his gross income in the calendar year 1920 as a loss the sum of $2,935 on the sale in that year of stock of the Union Traction Co. of Indiana, which stock had a fair market price on March 1, 1913, of $35.75 per share for the second preferred and $6 per share for the common. That part of the deficiency determined by the Commissioner by reason of the disallowance of any loss on the sale of this stock is disallowed.
The Board will determine the deficiency, if any, to be assessed upon revised computation by the Bureau of Internal Revenue which shall be submitted by the Commissioner after due notice to the taxpayer, or upon stipulation, or upon rehearing to be set upon motion of either party.