Respondent has determined a deficiency in petitioners' income tax for the taxable year 1955 in the amount of $23,404.38. The sole remaining issue is whether petitioners may deduct as interest certain payments made in 1955 to the All Service Life Insurance Corporation and to the Farmers and Stockmens Bank, both of Phoenix, Arizona.
FINDINGS OF FACT.
The facts stipulated by the parties are incorporated herein by this reference.
Petitioners, husband...
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