Respondent determined a deficiency in petitioners' income tax for 1950 of $11,093.04. The only issue is whether gain realized on the sale of stock of Edsol Realty, Inc., should be taxed as ordinary income because that corporation was "collapsible" under section 117 (m), Internal Revenue Code of 1939.
FINDINGS OF FACT.
Some facts were stipulated and are hereby found accordingly.
Edward Weil, hereafter referred to as petitioner, and Dorothy Weil, husband...
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