Memorandum Findings of Fact and Opinion
FORRESTER, Judge:
Respondent has determined a deficiency in petitioners' Federal income tax for the taxable year 1972 in the amount of $4,404. The three issues for our decision are: (1) Whether petitioners made bona fide loans to their children, and if so whether their children's debts to them became worthless in 1972; (2) Whether petitioners are entitled to a deduction for expenses incurred in refinancing their personal...
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