The respondent determined a deficiency in income tax against the petitioner for the year 1955 in the amount of $687.12. The only question presented is whether residential property received by petitioner as partial consideration in exchange for unimproved desert land was property to be held by her for investment within the meaning of section 1031(a) of the Internal Revenue Code of 1954, to the end that the gain realized on the exchange to the extent represented by the residential...
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