Petitioners challenge respondent's determination of a deficiency in income and victory tax of $6,685.60 for 1943. The only issue is whether or not a loss sustained by petitioner Harold Kushel resulted from a non-business bad debt under section 23 (k) (4), Internal Revenue Code, and thus gave rise only to a short term capital loss.
FINDINGS OF FACT.
Petitioners, husband and wife, are residents of Brooklyn, New York, and filed a joint return for 1943 with...
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