Memorandum Findings of Fact and Opinion
FAY, Judge:
Respondent determined a deficiency in the Federal income tax of petitioners for the calendar year 1961 in the amount of $2,081.74.
The sole issue for determination is whether petitioners are entitled to a deduction for a nonbusiness bad debt in the amount of $9,800.
Findings of Fact
Some of the facts have been stipulated, and the stipulation of facts, together with the exhibits...
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