Respondent determined a deficiency in petitioners' income tax for 1956 in the amount of $631.24. Other adjustments being conceded, the sole remaining issue is whether payments made by petitioners for the construction of their personal residence in excess of the contract price constituted an allowable deduction as a nonbusiness bad debt.
FINDINGS OF FACT.
Some of the facts have been stipulated. The stipulation and contents of accompanying exhibits are hereby...
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