The respondent determined a deficiency of $9,331.55 in income tax for the year 1946. The issue is whether a loss of $12,471.58, sustained upon the disposition of a note, is deductible as an ordinary or a capital loss. The return of the decedent was filed with the collector for the district of Michigan.
FINDINGS OF FACT.
The facts set forth in a stipulation are so found.
Petitioners are the duly qualified executrixes of the estate of Clarence E. Lehr...
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