MEMORANDUM FINDINGS OF FACT AND OPINION
WELLS, Judge:
Respondent determined a deficiency of $58,883 in petitioner's 1989 Federal income tax. After concessions, the issues remaining for decision are: (1) Whether petitioner is entitled to a business bad debt deduction pursuant to section 166(a)(1) for the worthlessness of certain loans and advances made by petitioner to Color Trick, Inc. (Color Trick); and (2) whether petitioner may claim an ordinary loss...
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