Memorandum Findings of Fact and Opinion
SIMPSON, Judge:
The Commissioner determined a deficiency of $21,573.00 in the petitioners' Federal income tax for 1975. After concessions by the petitioners, the issues for decision are: (1) Whether an amount paid by the petitioners to settle a potential lawsuit was an ordinary and necessary business expense or a nondeductible capital expenditure; and (2) whether legal fees paid by the petitioners in connection with...
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