 In the case of an individual, losses sustained during the taxable year and not compensated for by insurance or otherwise — "(1) if incurred in trade or business ; or "(2) if incurred in any transaction entered into for profit, though not connected with...  Reports of the U.S. Board of Tax Appeals - Page 550by United States. Board of Tax Appeals - 1942Full view - About this book
 | New York (State) - 1935 - 1272 pages
...follows: 5. Losses sustained during the taxable year and not compensated for by insurance or otherwise, if incurred in any transaction entered into for profit, though not connected with the taxpayer's trade or business; but in the case of a taxpayer other than a resident of the state, only... | |
 | United States. Supreme Court - 1940 - 894 pages
..."(e) Losses by Individuals.—Subject to the limitations provided in subsection (r) of this section, in the case of an individual, losses sustained during...otherwise— "(1) if incurred in trade or business; or 473 Opinion of the Court. fail of nearly $70,000. On that date, as a partial payment on this indebtedness,... | |
 | United States. Court of Claims, Audrey Bernhardt - 1951 - 840 pages
...DEDUCTIONS FROM GROSS INCOME. In computing net income there shall be allowed as deductions : ***** (e) LOSSES BY INDIVIDUALS. — In the case of an individual,...though not connected with the trade or business ; or ***** (h) WAGERING LOSSES. — Losses from wagering transactions shall be allowed only to the extent... | |
 | United States. Court of Claims - 1937 - 786 pages
...23 (e), Eevenue Act of 1928, provides for the allowance of deductions for losses, if not compensated by insurance or otherwise, (1) if incurred in trade...profit, though not connected with the trade or business. Admittedly the decedent was not engaged in gambling as a trade or business and the losses were not... | |
 | United States. Court of Claims - 1940 - 772 pages
...of 1928 (45 Stat. 791) permits a deduction of losses — incurred in trade or business; or incurred in any transaction entered into for profit, though not connected with the trade or business. The plaintiff was the chairman of the board of the Norfolk Ledger-Dispatch, an evening newspaper. He... | |
 | United States. Court of Claims - 1938 - 834 pages
...(e) Losses by Individuals. — Subject to the limitations provided in subsection (r) of this section, in the case of an individual, losses sustained during the taxable year and not compensated for by insurance or otherwise — * * * (2) if incurred in any transaction entered... | |
 | Ewell D. Moore - 1919 - 44 pages
...business; 5. Losses sustained in the taxable year and not compensated for by insurance or otherwise, if incurred in any transaction entered into for profit, though not connected with the trade or business; but in case of a non-resident alien individual only as to such transactions in the US; 6. Losses sustained... | |
 | Guaranty Trust Company of New York - 1919 - 664 pages
...business; (5) Losses sustained during the taxable year and not compensated for by insurance or otherwise, if incurred in any transaction entered into for profit, though not connected with the trade or business; but in the case of a nonresident alien individual only as to such transactions within the United States;... | |
 | Alabama - 1919 - 1476 pages
...business, (e) Losses sustained during the taxable year and not compensated for by insurance or otherwise, if incurred in any transaction entered into for profit, though not connected with the trade or business; but in the case of a taxpayer other than a resident of the State, .only as to such transactions within... | |
 | Henry Montefiore Powell - 1919 - 708 pages
...trade. 5. Losses sustained during the taxable year and not compensated for by insurance or otherwise, if incurred in any transaction entered into for profit, though not connected with the trade or business; but in the case of a taxpayer other than a resident of the stale, only as to such transactions within... | |
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