Memorandum Findings of Fact and Opinion
The respondent determined a deficiency in income tax against Milton A. Holmes for the year 1941 in the sum of $3,914.03.
The sole issue in controversy is whether or not the petitioner sustained a deductible loss in 1941 upon the sale of preferred stock of the St. Louis-San Francisco Railway Company. A question concerning the petitioner's right to deduct in the taxable year a short-term capital loss carry-over from...
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