Memorandum Findings of Fact and Opinion
SCOTT, Judge:
Respondent determined deficiencies in petitioners' income tax for the calendar years 1975, 1976 and 1977 in the amounts of $27,253, $4,682 and $4,002, respectively.
Some of the issues raised by the pleadings have been disposed of by the parties, leaving for our decision only whether petitioners are entitled to deduct in the year 1975 as a loss or business bad debt an amount of $68,098.39 paid...
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