HALL, Judge:
Respondent determined a deficiency in petitioners' 1969 Federal income tax of $16,975.44. Other issues having been disposed of by mutual agreement, the three issues for decision are:
(1) Whether petitioners' interest costs incurred in purchasing stock on margin may be capitalized under section 266?
(2) Assuming that such interest costs may be capitalized did petitioners make a valid election under section...
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