Memorandum Findings of Fact and Opinion
FORRESTER, Judge:
Respondent determined deficiencies in petitioner's Federal income tax for the years 1965 and 1966 in the amounts of $1,729.26 and $1,122.03, respectively.
Concessions having been made, the only issues for decision are: (1) whether petitioner was engaged in the business of breeding and training horses for sale in 1965 and 1966, so that resulting losses from such "business" are deductible under...
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