ESTATE OF LEHR v. COMMISSIONER

Docket No. 24389.

18 T.C. 373 (1952)

ESTATE OF CLARENCE E. LEHR, DECEASED, MRS. SARAH JANE WIANT AND MRS. RENA E. GORDON, EXECUTRIXES, PETITIONERS, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.

United States Tax Court.

Promulgated May 22, 1952.


Attorney(s) appearing for the Case

Edgar W. Pugh, Esq., for the petitioners.

Robert E. Johnson, Esq., for the respondent.


The respondent determined a deficiency of $9,331.55 in income tax for the year 1946. The issue is whether a loss of $12,471.58, sustained upon the disposition of a note, is deductible as an ordinary or a capital loss. The return of the decedent was filed with the collector for the district of Michigan.

FINDINGS OF FACT.

The facts set forth in a stipulation are so found.

Petitioners are the duly qualified executrixes of the estate of Clarence E. Lehr...

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