Memorandum Opinion
SCOTT, Judge:
Respondent determined a deficiency in petitioner's income tax for the calendar year 1977 in the amount of $2,592. The only issue for decision is whether petitioner is required to recognize the gain on the sale of a duplex or is entitled to defer recognition of that gain under section 1031.
Most of the facts have been stipulated and are found accordingly.
Petitioner, who resided...
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