Memorandum Findings of Fact and Opinion
The Commissioner determined a deficiency of $380.04 in income tax of the petitioners for 1949. The issue for decision is whether a deduction under section 23(e) or (k) is allowable as a result of a used car transaction in which Joseph endeavored to aid a friend.
Findings of Fact
The petitioners filed a joint return for 1949 with the collector of internal revenue for the second district of Texas.
Charles...
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