RANSON v. COMMISSIONER

Docket No. 31350.

11 T.C.M. 699 (1952)

Samuel H. Ranson, Jr. v. Commissioner.

United States Tax Court.

Entered June 30, 1952.


Attorney(s) appearing for the Case

Claude I. Depew, Esq., First National Bank Bldg., Wichita, Kans., for the petitioner. David Karsted, Esq., for the respondent.


Memorandum Findings of Fact and Opinion

HARRON, Judge:

The respondent has determined a deficiency in income tax for 1946 in the amount of $940.73.

The petitioner sustained a net operating loss for the year 1948, and is entitled to a loss carry-back to the year 1946 under section 122. The respondent has reduced the amount of the net operating loss for 1948, which results in a corresponding reduction...

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