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OLSON v. COMMISSIONER

Docket No. 9201.

10 T.C. 458 (1948)

E. C. OLSON, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.

United States Tax Court.

Promulgated March 17, 1948.

Attorney(s) appearing for the Case

Benjamin F. Kizer, Esq., and George Kinnear, Esq., for the petitioner.

T. M. Mather, Esq., for the respondent.

HARLAN, Judge:

This proceeding involves a deficiency in income tax for the calendar year 1941 in the amount of $28,512.05.

We are asked to determine:

(1) Whether the Commissioner erred in determining that the stock of the Trask-Willamette Co. became worthless prior to 1941.

(2) Whether the Commissioner erred in disallowing a bad debt deduction in connection with the Trask-Willamette note.

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