Respondent determined deficiencies in petitioner's income tax for the calendar years 1944 and 1945 in the respective amounts of $2,295.44 and $1,160.28.
The question presented is whether certain expenditures of petitioner's in 1944 were deductible as ordinary business expenses, as claimed by petitioner, or whether same constituted a short term capital loss attributable to petitioner's failure to exercise an option within the meaning of section 117 (g) (2) of the Internal...
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