United States Tax Court April 10, 1963, Docket No. 88168 (Condit v. Commissioner)

lead-opinion

FisheR, Judge:

Respondent has determined a deficiency of $2,238.31 in petitioner’s income tax for 1957. The sole question in issue is whether petitioner is entitled to an ordinary loss deduction on account of the transfer by him to the extent of $6,100 of his interest in a note and 50 shares of stock of The Dorman Co. made in connection with settlement of affairs of John E.