Memorandum Opinion
LEECH, Judge:
This proceeding involves income tax deficiency for the calendar year 1940 in the amount of $2,102.11. The sole contested issue is the petitioner's cost basis for determining long-term capital gain or loss on the sale in 1940 of 3,260 shares of Ruberoid stock held by it in a trust created in 1929. The facts were all stipulated and are adopted as our findings of fact. The Union Trust Company of Pittsburgh (hereinafter referred...
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