PER CURIAM.
This case turns upon the question when a taxpayer must claim the deduction of a worthless debt from his gross income under § 23(k) of the Revenue Act of 1934, 26 U.S.C.A. Int.Rev.Acts, page 673. The taxpayer held a note of his son which became altogether uncollectible during the year 1934, though it was not due until the next year. Supposing that he could not deduct the loss before the note fell due, the taxpayer did not deduct it in 1934. The Commissioner...
Let's get started
Welcome to the leading source of independent legal reporting
Sign on now to see your case.
Or view more than 10 million decisions and orders.
- Updated daily.
- Uncompromising quality.
- Complete, Accurate, Current.