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KINNEY v. UNITED STATES

Civ. A. No. 9351.

228 F.Supp. 656 (1964)

Henry KINNEY and Anita Kinney v. UNITED STATES of America.

United States District Court W. D. Louisiana, Lake Charles Division.

March 24, 1964.

Attorney(s) appearing for the Case

Kaufman, Anderson, Leithead Scott & Boudreau, Lake Charles, La., for plaintiffs.

Edward L. Shaheen, U. S. Atty., E. V. Boagni, Asst. U. S. Atty., Shreveport, La., Jerome J. Reso, Jr., Tax Division U. S. Dept. of Justice, Washington, D. C., for the United States.

HUNTER, Judge.

This is an action for the recovery of $10,679.37, plus interest, paid as income tax for the year 1958.

QUESTION PRESENTED

Whether the loss of $36,971.81 should be treated as an ordinary loss, as contended by the taxpayers, or as a capital loss, as contended by the Government.

STATUTES AND REGULATIONS INVOLVED

The pertinent statutes and Regulations are:

Internal...

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