Memorandum Findings of Fact and Opinion
The respondent has determined a deficiency in the income tax of petitioners for the taxable year 1950 in the amount of $1,997.62.
The sole contested issue is whether the amount of $2,461.55 paid by petitioners to their son, in kind, constitutes an ordinary and necessary expense deductible under sections 23(a)(1)(A) or 23(a)(2) of the Internal Revenue Code of 1939.
Findings of Fact
Petitioners are...
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