Memorandum Findings of Fact and Opinion
BRUCE, Judge:
The respondent determined deficiencies in income tax for the calendar years 1956 and 1957 in the respective amounts of $6,079.70 and $34,075.53. The sole issue as to each year is the amount of the net operating loss deduction, if any, available to the petitioners. The deduction claimed involves losses incurred in the years 1952 through 1955. Some facts are stipulated.
Findings of Fact
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