United States Tax Court.
Memorandum Findings of Fact and Opinion
SCOTT, Judge:
Respondent determined deficiencies in petitioner's income tax for the calendar years 1957, 1958, 1959, and 1960 in the respective amounts of $18,084.55, $25,585.81, $33,539.60, and $31,168.71.
The issue for decision is whether petitioner sustained a net operating loss in the year 1960 resulting from a deduction, as an ordinary and necessary business...
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