Memorandum Findings of Fact and Opinion
Respondent determined a deficiency in petitioners' income taxes for 1948 and 1949 in the respective amounts of $1,933.36 and $6,257.54. The sole issue is whether the respondent erred in his determination that for the taxable years involved the gain realized by petitioners from the sales of certain real estate constituted ordinary income.
Findings of Fact
Petitioners, husband and wife, are residents of Fort...
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