Memorandum Opinion
QUEALY, Judge:
The respondent determined a deficiency in the Federal income tax return of the petitioner for the taxable year ended March 31, 1969, in the amount of $109,922.08.
Due to concessions by the parties, the sole question for decision is whether petitioner sustained a deductible loss on account of the transfer of certain real property and cash in exchange for property of like kind. The deducibility of such loss depends...
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