Memorandum Opinion
SCOTT, Judge:
Respondent determined a deficiency in petitioners' income tax for the calendar year 1961 in the amount of $6,219.22.
The issue for decision is whether petitioner Jack Schlosser is entitled to a deduction as an ordinary loss of an amount of $25,000 which he paid to two of the other stockholders of a corporation in which he also held a stock interest, or whether this sum is deductible only as a short-term capital loss...
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