Memorandum Findings of Fact and Opinion
SCOTT, Judge:
Respondent determined deficiencies in petitioners' Federal income tax for the taxable years 1971 and 1972 in the amounts of $6,549.92 and $4,090.72, respectively. The parties have settled certain issues, leaving for decision only whether petitioners' net losses from farming and operating a gunning club in the years 1971 and 1972 are deductible as expenses incurred in activities engaged in for profit under...
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