Memorandum Findings of Fact and Opinion
GOFFE, Judge:
The Commissioner determined a deficiency in petitioners' Federal income tax for the taxable year 1975 in the amount of $3,178.20. The issues for our decision are:
(1) Whether petitioners are entitled to an ordinary loss deduction in the amount of $14,675 for the taxable year in issue;
(2) Whether petitioners are entitled to an ordinary loss deduction in the amount of $12,000 due to their...
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