ESTATE OF OLSON


271 Wis. 199 (1955)

ESTATE OF OLSON: UNITED STATES TREASURY DEPARTMENT, Respondent, vs. LA CROSSE TRUST COMPANY, Appellant.

Supreme Court of Wisconsin.

November 8, 1955.


Attorney(s) appearing for the Case

For the appellant there were briefs by Hale, Skemp, Nietsch, Hanson & Schnurrer of La Crosse, and Michael, Spohn, Best & Friedrich of Milwaukee, attorneys, and W. C. Brunsell and Richard D. Hobbet both of Milwaukee, of counsel, and oral argument by Mr. Thomas H. Skemp and Mr. Hobbet.

For the respondent there were briefs by H. Brian Holland, assistant United States attorney general, and Ellis N. Slack, Hilbert P. Zarky, and Karl Schmeidler, attorneys of the department of justice, and George E. Rapp, United States attorney, and James H. McDermott, assistant United States attorney, and oral argument by Mr. Zarky.


CURRIE, J.

In order to bring into sharper focus the basis of the government's claim for additional federal income taxes for the year 1950, we set forth below the computations of Olson's deductible loss shown in his 1950 return and the government's adjustments therein:

      Explanation              Figures         Figures as adjusted
      per return               per return      by the government
      Cash paid out for
      Nelson Garment
     ...

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