Memorandum Findings of Fact and Opinion
GOFFE, Judge:
The Commissioner determined a deficiency in petitioner's Federal corporate income tax for the taxable year 1969 in the amount of $94,834.51.
Due to concessions the sole issue for decision is whether petitioner must recognize a long-term capital gain in the amount of $344,849.81 on the sale of a tract of land known as the Long Lake Property.
Findings of Fact
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