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FAUROT v. COMMISSIONER OF INTERNAL REVENUE

No. 7141.

118 F.2d 348 (1941)

FAUROT et al. v. COMMISSIONER OF INTERNAL REVENUE.

Circuit Court of Appeals, Seventh Circuit.

January 13, 1941.

Attorney(s) appearing for the Case

Craig R. Johnson, of Chicago, Ill., for petitioners.

Samuel O. Clark, Jr., Asst. Atty. Gen., Sewall Key and S. Dee Hanson, Sp. Assts. to Atty. Gen., and John P. Wenchel and Irving M. Tullar, Bureau of Internal Revenue, both of Washington, D. C., for respondent.

Before SPARKS and TREANOR, Circuit Judges, and WOODWARD, District Judge.

WOODWARD, District Judge.

The petitioners, husband and wife, living together, filed a joint return of their income for the calendar year 1935. The wife had sustained losses and the husband had realized gains on the sale of capital assets. The joint return reported a net capital loss, which was the difference between the wife's losses and the husband's gains. The Commissioner refused to allow the losses and gains of the petitioners to be thus pooled and computed in...

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