MATHEWS, Circuit Judge.
Respondents, A. S. Eldridge and Alice H. Eldridge, husband and wife, residing in the state of Washington, filed separate income tax returns for the year 1929, in each of which there was claimed as a deductible loss resulting from the sale of stocks the sum of $16,552. The Commissioner of Internal Revenue disallowed the deductions and, as a consequence, determined tax deficiencies. The Board of Tax Appeals reversed the Commissioner and held...
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