Memorandum Findings of Fact and Opinion
SCOTT, Judge:
Respondent determined a deficiency in petitioner's income tax for the taxable year 1956 in the amount of $7,518.89.
The issue for decision is whether the redemption by the L. L. Bradbury Corporation of 44 shares of petitioner's stock for the cancellation of her indebtedness to the corporation in the amount of $21,069.94 and a credit to her account of $1,420.34 is essentially equivalent to a dividend...
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