United States Board of Tax Appeals September 15, 1927, Docket No. 4409. (Aubrey v. Commissioner)

lead-opinion

Sternhagen:

Deficiency in income tax of $76.35 for 1923. Respondent disallowed deductions for alleged expenses and bad debts.

FINDINGS OF FACT.

In 1928, petitioner made personal loans to four persons of $717.50, $100, $236, and $475, respectively, each of which was ascertained to be worthless and charged off in the year 1923.