GUGGENHEIMER v. COMMISSIONER

Docket No. 26684.

18 T.C. 81 (1952)

CHARLES S. GUGGENHEIMER AND MINNIE S. GUGGENHEIMER, PETITIONERS, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.

United States Tax Court.

Promulgated April 11, 1952.


Attorney(s) appearing for the Case

Edgar J. Goodrich, Esq., and Edward First, Esq., for the petitioners.

Robert B. Jacoby, Esq., for the respondent.


Respondent determined income tax deficiencies against the petitioners for the taxable years 1943 and 1944 in the amounts of $14,080.90, and $3,145.79, respectively. Certain adjustments made by the respondent in determining the above deficiencies were not contested; however, the following issues were raised in the petition and are presented for our decision:

1. Is the loss which petitioner, Charles S. Guggenheimer, suffered on the sale of real property in the year...

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