Memorandum Findings of Fact and Opinion
STERRETT, Judge:
The respondent determined deficiencies in the income taxes of the petitioners for the calendar years 1963 and 1964 in the respective amounts of $1,684.49 and $904.82.
The respondent has conceded that the petitioners are entitled to capital losses in the amount of $1,000 for each of the taxable years 1963 and 1964 with respect to losses sustained by petitioners as a result of the bankruptcy...
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