BICKERSTAFF v. COMMISSIONER OF INTERNAL REVENUE

No. 10017.

128 F.2d 366 (1942)

BICKERSTAFF v. COMMISSIONER OF INTERNAL REVENUE.

Circuit Court of Appeals, Fifth Circuit.

May 27, 1942.


Attorney(s) appearing for the Case

M. E. Kilpatrick and E. D. Smith, Jr., both of Atlanta, Ga., for petitioner.

Louise Foster, Sewall Key, and J. Louis Monarch, Sp. Assts. to the Atty. Gen., Samuel O. Clark, Jr., Asst. Atty. Gen., and J. P. Wenchel, Chief Counsel, Bureau of Internal Revenue, and John M. Morawski, Sp. Atty., Bureau of Internal Revenue, both of Washington, D. C., for appellee.

Before FOSTER, SIBLEY, and McCORD, Circuit Judges.


McCORD, Circuit Judge.

The sole question presented by the petition is whether the taxpayer was entitled to deduct as a loss the value of certain real estate claimed to have become worthless and abandoned during the year 1935.

The facts are stipulated: Charles A. Bickerstaff, a resident of Georgia, purchased certain unimproved real estate situated in Manatee County, Florida, in 1925, paying the full purchase price of $3,500.00. For state and county tax purposes...

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