Respondent determined deficiencies in petitioners' income tax for the years 1949, 1950, and 1951 in the amounts of $31.44, $9,357.72, and $2,643.40, respectively.
The issues, reduced to two by the parties, are first, whether certain transactions resulted in the sale or exchange of a capital asset, and second whether certain payments made by petitioner qualify as deductions.
FINDINGS OF FACT.
Some of the facts were stipulated and are so found.
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