Memorandum Findings of Fact and Opinion
DAWSON, Chief Judge:
Respondent determined a deficiency of $16,517.67 in petitioners' Federal income tax for the taxable year 1974. The issue for decision is whether a debt became worthless in 1977 so as to entitle petitioners to a bad debt deduction in that year and a net operating loss carryback to 1974.
Findings of Fact
Some of the facts have been stipulated and are found accordingly.
Bill...
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