Memorandum Findings of Fact and Opinion
The respondent determined a deficiency in income tax for the calendar year 1949 in the amount of $676.60. The deficiency results from respondent's holding that there was a closing inventory of materials and supplies in the business operated by the petitioner's husband. The petitioner alleges error in the respondent's determination, and further contends that the husband's business resulted in a loss, instead of income as reported...
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