Respondent determined deficiencies in petitioners' income tax for the years 1979 and 1980, in the respective amounts of $140,005 and $56,815.
The issues for decision are:
(1) Whether $85,360 of losses incurred by petitioner Gerald A. Heggestad in 1980 in selling certain Treasury bill futures contracts were capital losses rather than ordinary losses; and
(2) Whether petitioner...
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