United States Tax Court.
Memorandum Findings of Fact and Opinion
TIETJENS, Judge:
In these consolidated proceedings respondent has determined deficiencies in income tax for the year 1939 of $4,776.82 against each petitioner.
The questions presented are: (1) whether each petitioner is entitled to one-half of a claimed deduction of $43,500 as a return of capital or as an ordinary business or wagering loss; and (2) whether certain...
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