Jones Lumber Co. v. Commissioner ( 1927 )

OPINION.

Marquette:

Upon consideration of the evidence herein, we are of the opinion that the debts in question were worthless on December 31, 1921, and that they were ascertained to be worthless and charged off within the year 1921. The petitioner is, therefore, entitled to deduct the amount of the debts in computing its net income for the year 1921.

Judgment will he entered on 15 days' notice, under Bule 50.