Case Name: William H. Haywood, Petitioner, v. Commissioner of Internal Revenue, Respondent
Court: United States Board of Tax Appeals
Jurisdiction: United States
Decision Date: 1928-06-05
Citations: 12 B.T.A. 407
Docket Number: Docket No. 11847
Parties: William H. Haywood, Petitioner, v. Commissioner of Internal Revenue, Respondent.
Judges: 
Reporter: Reports of the United States Board of Tax Appeals
Volume: 12
Pages: 407–407

Head Matter:
William H. Haywood, Petitioner, v. Commissioner of Internal Revenue, Respondent.
Docket No. 11847.
Promulgated June 5, 1928.
G. M. Edelman, G.P. A., for the petitioner.
Bmce Loto, Esq., for the respondent.

Opinion:
Steenhagen:
This is a proceeding for the redetermination of a deficiency of $381.75 for 1921.
In 1910, the petitioner purchased 25 shares of the capital stock of the T. A. Clark Co. for $2,500. The March 1,1913, value of the stock was $6,599.50. In December, 1921, he sold the stock for $3,700. In his income-tax return for 1921 he deducted as a loss the difference between the March 1, 1913, value and the sales price. The respondent disallowed the deduction.
The petitioner suffered no deductible loss upon the sale of his stock for an amount greater than the cost but less than the March 1, 1913, value thereof. United States v. Flannery, 268 U. S. 98, and McCaughn v. Ludington, 268 U. S. 106.
Judgment will be entered for the respondent.