Memorandum Findings of Fact and Opinion
SCOTT, Judge:
Respondent determined a deficiency in petitioners' Federal income tax for the calendar year 1988 in the amount of $10,415, and additions to tax under sections 6653(a) and 6661 in the amounts of $521 and $2,604, respectively.
The issues for decision are: (1) Whether petitioners are entitled to claim losses incurred by Bancor Financial Services, Inc. (Bancor), which...
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