United States Board of Tax Appeals October 8, 1927, Docket No. 8793 (Van Etten v. Commissioner)

*614OPINION.

Phillips:

Petitioner claims that in 1921 he sustained a net loss from the operation of a trade or business regularly carried on by him, within the meaning of section 204 of the Revenue Act of 1921, which he is entitled to deduct. There is no question that the loss was sustained.