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UNITED STATES v. KYLE

No. 7330.

242 F.2d 825 (1957)

UNITED STATES of America, Appellant, v. Zelma T. KYLE and Betty K. Kyle, Appellees.

United States Court of Appeals Fourth Circuit.

Decided April 2, 1957.

Attorney(s) appearing for the Case

Melvin L. Lebow, Atty., Dept. of Justice, Washington, D. C. (Charles K. Rice, Asst. Atty. Gen., Lee A. Jackson and Harry Baum, Attys., Dept. of Justice, Washington, D. C., Lester S. Parsons, Jr., U. S. Atty., Norfolk, Va., and Richard R. Ryder, Asst. U. S. Atty., Richmond, Va., on the brief), for Appellant, and Howard C. Vick, Richmond, Va., for Appellees.

Before SOPER and SOBELOFF, Circuit Judges, and WILLIAMS, District Judge.

WILLIAMS, District Judge.

The question here is whether an uncollectible judgment obtained in a suit on an executory contract to sell a personal residence is deductible as a nonbusiness bad debt or is a nondeductible capital loss from the sale of taxpayers' residence.

In September 1946 Zelma T. and Betty K. Kyle, hereinafter referred to as the taxpayers, purchased a residence, located at No. 1602 Cedar Lane, Richmond, Virginia. On December 2, 1946, plaintiffs...

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