Case: Edward K. Johnstone, Petitioner, v. Commissioner of Internal Revenue, Respondent
Abbreviation: Johnstone v. Commissioner
Decision Date: 1929-09-20
Docket Number: Docket No. 30694
Citation: 17 B.T.A. 366
Volume: 17
Reporter: Reports of the United States Board of Tax Appeals
Court: United States Board of Tax Appeals
Jurisdiction: United States
Parties: Edward K. Johnstone, Petitioner, v. Commissioner of Internal Revenue, Respondent.
Judges: 
Pages: 366–368

Head Matter:
Edward K. Johnstone, Petitioner, v. Commissioner of Internal Revenue, Respondent.
Docket No. 30694.
Promulgated September 20, 1929.
Ward Loveless, Esq., and F. 0. Graves, Esq., for the petitioner.
B. H. Bitterbush, Esq., for the respondent.

Opinion:
OPINION.
Trussell:
We think that under the proof it is shown that petitioner made a sufficient investigation and effort to recover upon the debt and that the conclusion reached by him in the taxable year that it was uncollectible and worthless was, under the conditions shown and then known to him, reasonable and justified. We do not think that the circumstances required that he bring suit, against the advice and opinion of his attorney that the cost would exceed the recovery. Townsend Lumber Co., 1 B. T. A. 894.
Judgment will be entered for the petitioner.