Memorandum Findings of Fact and Opinion
JOHNSON, Judge:
This proceeding involves a deficiency of $9,568.27 in income tax for 1945. The issue is whether gain realized by petitioner from sales of lots in 1945 is taxable to him in that year, and, if so, whether the amount constitutes ordinary income or capital gain.
Findings of Fact
The facts set forth in a stipulation are so found.
The petitioner, an individual, residing in Salem...
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