Memorandum Findings of Fact and Opinion
IRWIN, Judge:
Respondent determined deficiencies of $1,833 and $51,513 in petitioners' Federal income taxes for the 1976 and 1977 taxable years, respectively. After concessions by the parties, the issues remaining for our determination are: (1) whether the depreciation and demolition loss deductions taken by petitioners in 1976 and 1977 were excessive because the portion of the purchase price allocated to the depreciable...
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