Court Opinion

ID: 4488556
Source: CourtListenerOpinion
Date Created: 2020-01-17 22:01:22.191291+00
Date Added: 2024-06-11T15:03:52.833886
License: Public Domain

*1353OPINION.
Marquette :
We are satisfied that the petitioner acquired and operated his ranches with a view to profit and that he expended thereon during the year 1921 the amount of $3,006.32, which he is entitled to deduct in computing his net income for that year. The evidence also convinces us that the petitioner sustained a loss of $800 from the sale of the hardware business which he purchased, *1354or agreed to purchase from Meyers, and that he is entitled to a deduction in that amount.

Judgment will he entered under Rule 50.