Memorandum Findings of Fact and Opinion
TIETJENS, Judge:
The Commissioner determined a deficiency in income tax against petitioners in the amount of $6,721.33 for the year 1950.
The following questions are presented for decision: (1) whether petitioners were holding lots for sale to customers in the ordinary course of business during the year 1950; (2) whether petitioners are entitled to defer for tax purposes the reporting of gains on the sales...
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