Memorandum Opinion
HALL, Judge:
The respondent determined a $3,615.78 deficiency in petitioners' 1966 Federal income tax. The sole issue for decision is whether petitioners are entitled to a deduction in 1966 for a theft loss in excess of the amount of their insurance recovery.
The parties have filed a stipulation of facts which, together with accompanying exhibits, is incorporated herein by this reference.
Petitioners, husband and wife,...
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