Memorandum Findings of Fact and Opinion
TURNER, Judge:
The respondent determined a deficiency in income tax against the petitioner for the year 1939 in the amount of $1,324.99. The question for determination is whether petitioner is entitled, in computing his net income, to deduct $3,393.49 as an ordinary and necessary expense, as a bad debt, or as a loss.
Findings of Fact
Most of the facts were stipulated and are found as stipulated.<...
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