Revenue Ruling 1954-339 Citations: Revenue Ruling 54-339, 1954-2 C.B. 89 Advice is requested whether a taxpayer, not engaged in the trade or business of gambling, may deduct wagering losses to the extent of wagering gains in addition to claiming the optional standard deduction provided in section 23(aa) of the Internal Revenue Code. Section 23(h) of the Code provides that in computing net income...
Offutt v. Commissioner of Internal Revenue (1951)
ROY T. OFFUTT, Petitioner, v. COMMISSIONER OF INTERNAL REVENUE, Respondent. Tax Court of the United States. 16 T.C. 1214 (Cite as: 16 T.C. 1214) Docket No. 21436. Promulgated May 31, 1951. George Bouchard, Esquire, for the petitioner. A. J. Hurley, Esquire, for the respondent. Wagering losses in excess of wagering gains held not available to offset other income nor to create net operating loss...
Twenty-Second Amendment
Section 1 No person shall be elected to the office of the President more than twice, and no person who has held the office of President, or acted as President, for more than two years of a term to which some other person was elected President shall be elected to the office of the President more than once. But this Article shall not apply to any person holding the office of President when this...
Skeeles v. United States (1951)
ESTATE OF WILLIAM E. SKEELES v. UNITED STATES; ANNE C. SKEELES v. UNITED STATES (two cases). United States Court of Claims. 118 Ct.Cl. 362, 95 F.Supp. 242, 51-1 USTC ¶ 9157, 40 A.F.T.R. 197 (Cite as: 118 Ct.Cl. 362, 95 F.Supp. 242) Nos. 48838, 48839. February 6, 1951. Anne C. Skeeles brought an action as administratrix of the estate of William E. Skeeles, deceased, and an action in her...
Carmack v. Commissioner of Internal Revenue (1950)
CARMACK et ux.v.COMMISSIONER OF INTERNAL REVENUE. United States Court of Appeals Fifth Circuit. 183 F.2d 1, 50-2 USTC ¶ 9360, 39 A.F.T.R. 620 (Cite as: 183 F.2d 1) No. 13075. June 30, 1950. On Motion to Modify August 1, 1950. Petition by Joseph and Bula R. Carmack to review a decision of the Tax Court of the United States, District of Texas, redetermining a deficiency in a federal income tax...
Silver v. Commissioiner (1940)
MAX SILVER, Petitioner, v. COMMISSIONER OF INTERNAL REVENUE, Respondent. Board of Tax Appeals. 42 B.T.A. 461 (1940) Docket No. 100186. Promulgated August 6, 1940. Harry Friedman, Esquire, and Joseph A. Bonchi, Esquire, for the petitioner. Charles P. Reilly, Esquire, and John M. Kennedy, Esquire, for the respondent. This is a proceeding to redetermine a deficiency in income tax of $14,737.16 for...
Kane v. Commissioner of Internal Revenue (1938)
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Huntington v. Commissioner of Internal Revenue (1937)
SAMUEL L. HUNTINGTON, Petitioner, v. COMMISSIONER OF INTERNAL REVENUE, Respondent. Board of Tax Appeals. 35 B.T.A. 835 (1937) Docket No. 78916. Promulgated April 2, 1937. J. W. Davern, Esquire, for the petitioner. I. Graff, Esquire, for the respondent. The respondent determined a deficiency in petitioner’s income tax for the year 1932 in the amount of $6,965.55. He also added a fraud...
Droge v. Commissioner of Internal Revene (1937)
CHRISTIAN H. DROGE, PETITIONER, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT. Board of Tax Appeals. 35 B.T.A. 829 (1937) Docket No. 79632. Promulgated April 2, 1937. Hugh Satterlee, Esquire, William R. Green, Jr., Esquire, and I. Herman Sher, Esquire, for the petitioner. I. Graff, Esquire, for the respondent. The respondent determined a deficiency in the income tax of petitioner for the year...
Moskowitz v. Cohen (1936)
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