Memorandum Findings of Fact and Opinion
SCOTT, Judge:
Respondent determined a deficiency in petitioner's Federal income tax for the calendar year 1970 in the amount of $634.97.
The only issue for decision is whether petitioner is entitled to a deduction of an ordinary loss of $15,000 for the taxable year 1970 because of receiving notice in that year that certain notes payable only on stated contingencies would not be paid because of failure of the...
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