SIBLEY, Circuit Judge.
The taxpayer was divorced from his wife, and in a voluntary settlement of their community estate he purchased her share (except designated personal effects) by a written instrument in which he agreed to pay $10,000 in cash and $300 per month for ten years, besides other payments. Petitioner and his attorney considered the present value of the property and interest on it at 3½ percent during the period of the instalments in arriving at the...
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