Memorandum Findings of Fact and Opinion
Respondent determined a deficiency in petitioner's income tax for the calendar year 1950 in the amount of $5,851.07. The sole issue is whether the redemption in 1950 by a corporation called Blauner's of 690 shares of preferred stock held by the petitioner was essentially equivalent to the distribution of a taxable dividend.
Findings of Fact
Some of the facts were stipulated and, as stipulated, are incorporated...
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