Memorandum Findings of Fact and Opinion
This proceeding involves an income tax deficiency of $286.69 for the taxable year 1947.
The issue presented for our decision is whether petitioners are entitled to a deduction of $1,500 in 1947 for a bad debt loss.
Findings of Fact
Petitioners Philip C. Hughes and Marie A. Hughes are husband and wife residing in Brooklyn, New York. They filed a joint income tax return for the calendar year 1947 with...
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