FISHER, Judge:
Respondent determined a deficiency in income tax of petitioners for the years 1954 and 1955 in the respective amounts of $13,724.94 and $12,347.28. The issue presented for consideration is whether, during the taxable years 1954 and 1955, petitioner operated an enterprise in which capital was a material income-producing factor, thereby permitting him to elect, under section 1361, Code of 1954, to have the enterprise taxed as a domestic corporation...
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