Memorandum Findings of Fact and Opinion
MULRONEY, Judge:
The respondent determined deficiencies in the income tax for the taxable year 1957 of the petitioners J. A. Farrell and Doris Farrell in the amount of $1,578.93 and of the petitioners Elmer C. Farrell and Dorothy Farrell in the amount of $1,675.56.
The issues are whether the Farrell partnership is entitled to a deduction of $10,426.75 as a loss, or alternatively, as an ordinary and necessary...
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