Memorandum Findings of Fact and Opinion
The respondent determined a deficiency of $605.55 in the income tax of each of the petitioners for the year 1941.
The single issue is whether the gain realized from the disposition of the interest of the petitioner, N. Nielsen, in the partnership doing business as Vulcan Machine Company, constituted ordinary income or capital gain.
Findings of Fact
The facts were stipulated and as so stipulated are...
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