United States Board of Tax Appeals December 8, 1938, Docket No. 87564. (Carlson v. Commissioner)

lead-opinion

*1364OPINION.

Leech:

The first two issues will be considered together. Is petitioner entitled to deduct any loss for 1934 on his stock in the Bank or because of his payment of $5,000 as the owner of such stock? Revenue Act of 1934, sec. 23 (e) (2).1 Petitioner contends he is so entitled on the ground that the stock became worthless and was relinquished by him during that year.