Memorandum Findings of Fact and Opinion
The Commissioner determined a deficiency of $574.64 in the petitioner's income tax for the year 1940.
The issue presented is whether or not the petitioner, when exercising his option to convert from lower to higher premium policies of life insurance, can deduct as interest under section 23 (b), I. R. C., an amount designated as interest on the difference between the two premiums computed from the due date of each of...
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