Case Name: Jones Lumber Co., Petitioner, v. Commissioner of Internal Revenue, Respondent
Court: United States Board of Tax Appeals
Jurisdiction: United States
Decision Date: 1927-01-25
Citations: 5 B.T.A. 1159
Docket Number: Docket No. 3275
Parties: Jones Lumber Co., Petitioner, v. Commissioner of Internal Revenue, Respondent.
Judges: 
Reporter: Reports of the United States Board of Tax Appeals
Volume: 5
Pages: 1159–1160

Head Matter:
Jones Lumber Co., Petitioner, v. Commissioner of Internal Revenue, Respondent.
Docket No. 3275.
Promulgated January 25, 1927.
Paul Kayser, Esq., for the petitioner.
Robert A. Littleton, Esq., for the respondent.

Opinion:
OPINION.
Marquette:
Upon consideration of the evidence herein, we are of the opinion that the debts in question were worthless on December 31, 1921, and that they were ascertained to be worthless and charged off within the year 1921. The petitioner is, therefore, entitled to deduct the amount of the debts in computing its net income for the year 1921.
Judgment will he entered on 15 days' notice, under Bule 50.