Memorandum Findings of Fact and Opinion
OPPER, Judge:
Respondent determined a deficiency of $17,964.32 in petitioner's income tax for the calendar year 1955. The issues are (1) whether deposits under a defaulted contract for the sale of real estate were received without restriction as payment by petitioner in 1955 rather than 1956 and, if so, (2) whether such payment was taxable as ordinary income.
Findings of Fact
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