Memorandum Findings of Fact and Opinion
LEECH, Judge:
This is a proceeding for the redetermination of a deficiency in income tax for 1939 in the amount of $2,609.41. The issues are (1) whether respondent erred in disallowing a deduction from gross income of the sum of $12,232.53 as a loss sustained in the taxable year and incurred in trade or business, and (2) whether petitioner should be allowed to reduce item 11 "Recovery from bad accounts $1,488.43" to...
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