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WHIPPLE v. COMMISSIONER

No. 305.

373 U.S. 193 (1963)

WHIPPLE v. COMMISSIONER OF INTERNAL REVENUE.

Supreme Court of United States.

Decided May 13, 1963.

Attorney(s) appearing for the Case

Charles Dillingham argued the cause for petitioners. With him on the briefs were Ben H. Schleider, Jr., John S. Brunson and A. C. Lesher, Jr.

Solicitor General Cox argued the cause for respondent. With him on the brief were Assistant Attorney General Oberdorfer and Robert N. Anderson.

MR. JUSTICE WHITE delivered the opinion of the Court.

Section 23 (k) (1) of the Internal Revenue Code of 19391 provides for the deduction in full of worthless debts other than nonbusiness bad debts while § 23 (k) (4) restricts nonbusiness bad debts to the treatment accorded losses on the sale of short-term capital assets.2 The statute defines a nonbusiness bad debt in part as "a debt . . . other than a...

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