The Commissioner determined a deficiency of $216.67 in the income tax of the petitioner for the calendar year 1943. The year 1942 is involved because of the forgiveness provisions of the Internal Revenue Code. The only issue for decision is whether the petitioner is entitled to deductions of $594.38 for 1942 and $505.90 for 1943 representing payments made in those years upon the purchase price of property sold at a loss in 1940.
FINDINGS OF FACT.
The petitioner...
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