Memorandum Opinion
FAY, Judge:
The Commissioner has determined a deficiency in petitioner's income tax for the year 1956 in the amount of $16,695.26. The only issue for decision is whether the basis of certain property is to be computed in accordance with section 1012 of the Internal Revenue Code of 1954 or section 1014 of the Code.
All of the facts have been stipulated, are so found, and are incorporated herein by reference. Those necessary to an...
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