CULLEN, Commissioner.
The question is whether, under the provisions of the state income tax law in force during the years 1946, 1947 and 1948, a taxpayer could carry over to the following year a net loss sustained during a particular tax year.
The appellee, Daskell Borders, sustained a net loss in the operation of a farm during the year 1946. In his state income tax return for the year 1947, he carried over the loss and deducted it from his 1947 income. The...
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