Memorandum Findings of Fact and Opinion
HALL, Judge:
Respondent determined deficiencies in petitioner's Federal income tax for 1967 and 1968 in the respective amounts of $2,922.50 and $4,430.00. The sole issue for decision is whether petitioner is entitled to net operating loss carryback deductions for 1967 and 1968 by reason of deductions taken in 1970 for depreciation and other business expenses and by reason of a 1970 business bad debt or business loss...
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