Memorandum Findings of Fact and Opinion
The respondent determined a deficiency of $1,519.38 in the income tax of W. R. Bassick for the year 1940 and a deficiency of $1,552.51 in the income tax of Della W. Bassick for the same year.
The sole issue is the correct determination of the value, if any, of 812½ shares of stock of the Hendy Realization Company received by W. R. Bassick as compensation for his services in connection with the reorganization of...
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