DRENNEN, Judge:
Respondent has determined a deficiency in the amount of $3,579.55 in petitioners' 1974 income tax. After concessions, the issues presented for decision are:
(1) Whether payment of certain taxes and satisfaction of a judgment by petitioners because of an employment relationship with their wholly owned corporations represent deductible business bad debts pursuant to section 166, I.R.C. 1954;
(2...
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