Case Name: Appeal of LAURENS TRUST CO.
Court: United States Board of Tax Appeals
Jurisdiction: United States
Decision Date: 1926-01-14
Citations: 3 B.T.A. 331
Docket Number: Docket No. 3930
Parties: Appeal of LAURENS TRUST CO.
Judges: Before James and Trussell.
Reporter: Reports of the United States Board of Tax Appeals
Volume: 3
Pages: 331–332

Head Matter:
Appeal of LAURENS TRUST CO.
Docket No. 3930.
Submitted July 10, 1925.
Decided January 14, 1926.
Wilton H. Wallace, Esq., and B. G. Wallace, G. P. A., for the taxpayer.
M. N. Fisher, Esq., for the Commissioner.
Before James and Trussell.

Opinion:
DECISION.
In computing the deficiency in this appeal, bad debt deductions; should be allowed in the amount of $35,939.68, and there should be-included in gross income derived from the Simpson land transaction only the amount of the cash payment of $2,247.50. Otherwise, the, determination of the Commissioner is approved. Final determination will be settled upon 15 days' notice, pursuant to Rule 50.