¶2The Board finds that certain accounts receivable, aggregating $7,046.10, in controversy in this appeal, were not actually ascertained to be worthless and charged off within the calendar year 1919. The deficiencies in respect to each of the taxpayers herein should be recomputed in accordance with the foregoing finding. Final decision will be settled on consent or on twenty days’ notice in accordance with Rule 50.
1 B.T.A. 956
Lasater v. Commissioner
United States Board of Tax Appeals
Decided April 6, 1925
United States Board of Tax Appeals · decided 1925-04-06
Under the provisions of the reveune Act of 1918 a so-called bad debt is an allowable deduction from gross income only when ascertained to be worthless and charged off within the taxable period. The charging off of bad debts should, in the case of a taxpayer keeping regular books of account, be evidenced by such book entries as will effectually eliminate the amount of the bad debt from the book assets of the taxpayer.
Good law ✅— No negative treatment on recordhow we know
Decided 1925-04-06
How this case has been cited
Cited by 8 later decisions — most recently December 1980
1 federal appellate ·
Later decisions citing this case, by decade. The current decade is in progress, and our corpus holds fewer opinions from the most recent years, so the latest bars are undercounted — not a real decline.
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