These proceedings challenge respondent's determination of deficiencies in petitioners' income tax for the year 1937 as follows: A. R. Losh, $4,839.94; Jennie C. Losh, $4,810.02.
An alleged bad debt deduction and certain alleged ordinary and necessary business expenses to the extent of $702.85 having been conceded by petitioners at the hearing, the remaining questions for our determination are the taxability to petitioners of the entire income under a partnership-trust...
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