Memorandum Findings of Fact and Opinion
TURNER, Judge:
The respondent has determined a deficiency in income tax against the petitioner for the year 1940 in the amount of $2,414.22. The only question for determination is whether the petitioner is entitled to a deduction from gross income of $12,300 as a long-term loss, that amount being 50 percent of the cost to him of stock in Grays Ferry Brick Company, which stock had been surrendered in 1935, petitioner...
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