Memorandum Findings of Fact and Opinion
SCOTT, Judge:
Respondent determined a deficiency in petitioner's income tax for the calendar year 1958 in the amount of $26,093.22. The issue for decision is whether petitioner's stock in Santa Clara Frosted Foods Company became worthless in the calendar year 1958.
Findings of Fact
Petitioner is a corporation organized under the laws of California in 1933. Its corporate Federal income tax return for...
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