This proceeding involves a deficiency in income tax for the year 1940 in the amount of $6,401.95. The amount now in dispute is approximately $2,606.22. Two issues are involved: First, whether or not petitioner is entitled to a bad debt deduction in the year 1940, and, second, whether or not the petitioner is entitled to deduct real estate taxes paid the city of New York in the calendar year 1940. Some of the facts are stipulated.
FINDINGS OF FACT.
Petitioner...
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