U.S. Court of Appeals for the Third Circuit, 1932

Keusch v. Commissioner

Keusch v. Commissioner
U.S. Court of Appeals for the Third Circuit · Decided July 11, 1932
60 F.2d 481; 11 A.F.T.R. (P-H) 767; 1932 U.S. App. LEXIS 2553; 1932 U.S. Tax Cas. (CCH) 9446; 11 A.F.T.R. (RIA) 767 (Federal Reporter, Second Series)

Keusch v. Commissioner

Opinion of the Court

PER CURIAM.

The underlying question in this case is whether the Lorillard stock sold by the taxpayer was part of his business or was an ordinary capital asset. The tax authorities decided as a question of fact that it was entirely independent of his business. Sueh being the ease, it follows the taxpayer was not entitled to have- his loss on sueh stock deducted as a business loss, and the Commissioner rightly so held. The appeal of the taxpayer is dismissed.

Case-law data current through December 31, 2025. Source: CourtListener bulk data.