Memorandum Findings of Fact and Opinion
DRENNEN, Judge:
Respondent determined deficiencies in petitioners' income tax for the years 1955 and 1956 in the amounts of $10,548.56 and $41.34, respectively. Petitioners did not assign error with respect to the deficiency for the year 1956. The only remaining issue is whether a loss in the amount of $181,253.85 sustained by petitioner Edward in 1955 as guarantor of loans to Swift Construction Company is deductible...
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