Respondent determined a deficiency in income tax of petitioners in the amount of $1,254.74 for the taxable year 1948.
The question for decision is whether the bulls sold by petitioners in 1948 were held primarily for sale in the ordinary course of their trade or business or were property used in their trade or business as defined by section 117 (j) (1) of the Internal Revenue Code of 1939.
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