Respondent determined a deficiency in petitioners' income tax for 1950 of $5,787.28. The two issues are: (1) Whether petitioners' bad debt resulting from the unpaid loans and claims against a corporation liquidated in 1950 was a business or nonbusiness bad debt loss; (2) whether petitioners' additional loss from the purchase of debtor's stock in 1950 was a capital loss or a business bad debt.
FINDINGS OF FACT.
Certain facts have been stipulated and are hereby...
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