Respondent determined a deficiency in income tax of petitioners for the calendar year 1948 in the amount of $1,094.22. The sole controversy arises from respondent's disallowance of a deduction for loss by theft of an item of jewelry in the amount of $2,950.
FINDINGS OF FACT.
The petitioners, Warner L. Jones and Ethel C. Jones, are husband and wife, who, during the taxable year involved, resided at Apple Tree Farm, Glen Head, Long Island, New York. They filed...
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