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BRUCE v. UNITED STATES

No. 26165.

409 F.2d 1317 (1969)

Homer L. BRUCE et ux., Appellants, v. UNITED STATES of America, Appellee.

United States Court of Appeals Fifth Circuit.

April 10, 1969.

Attorney(s) appearing for the Case

William C. Griffith, Baker, Botts, Shepherd & Coates, Houston, Tex., for appellants.

Morton L. Susman, U. S. Atty., James R. Gough, Asst. U. S. Atty., Houston, Tex., Leonard B. Tatar, Atty., Tax Div., Dept. of Justice, Fort Worth, Tex., Mitchell Rogovin, Asst. Atty. Gen., Lee A. Jackson, Harry Marselli, Harry Baum, Issie L. Jenkins, Attys., Tax Division, U. S. Dept. of Justice, Washington, D. C., for appellee.

Before JONES and COLEMAN, Circuit Judges, and CHOATE, District Judge.

PER CURIAM:

In this taxpayers' suit for refund, the issue is whether certain stock losses should be treated as ordinary losses (rather than capital) because of the provisions of Section 1244 of the Internal Revenue Code of 1954. The District Court determined the losses to be capital and denied the taxpayers' claim for refund. Bruce v. United States, 279 F.Supp. 686 (S.D.Tex.1968).

The facts are adequately stated in the...

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