The Commissioner determined a deficiency of $2,230.39 in the income tax of the petitioners for 1946. The only issue for decision is whether a loss sustained upon the sale of 146 East End Avenue, New York, is a loss from a transaction entered into for profit or is a nondeductible loss because it was from the sale of a personal residence.
FINDINGS OF FACT.
The petitioners, husband and wife, resided at 142 East End Avenue, New York, New York, and filed a joint...
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