HARRON, Judge:
Respondent determined a deficiency in income tax for 1957 in the amount of $16,189.36. The question is whether petitioner is entitled to a deduction in 1957 of $30,850.49 under section 163(a), 1954 Code, as interest paid on indebtedness.
FINDINGS OF FACT
Most of the facts have been stipulated. The stipulated facts are found accordingly.
Petitioners are residents of Merrick, N.Y. They filed a joint return for 1957 with...
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