United States Board of Tax Appeals March 13, 1934, Docket Nos. 71858, 72023 (Dennett v. Commissioner)

*56OPINION.

Smith:

In these proceedings the petitioners claim the deduction from gross income of 1930 of losses alleged to have been sustained by each of them upon the sale of securities to the other. The respondent has disallowed the losses upon the ground that under the laws of Massachusetts there can be no valid sale of property between husband and wife.