DRENNEN, Judge:
In this proceeding respondent determined a deficiency in income tax due from petitioners for the taxable year 1954 in the amount of $4,375.88.
The only issue for decision is whether petitioners are entitled to business deductions for the taxable year 1954, representing the expenses of maintenance and depreciation of a yacht during that year.
FINDINGS OF FACT.
Petitioners were husband and wife, residing in New York,...
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