Memorandum Opinion
FEATHERSTON, Judge:
Respondent determined a deficiency of $4,423.58 in petitioners' Federal income tax for 1974. The sole issue for decision is whether petitioners must recapture investment credit, taken as shareholders of a subchapter S corporation, upon the liquidation of the subchapter S corporation and the transfer of the business to a partnership.
All of the facts have been stipulated.
Petitioners Joe Alvin Sexton...
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