Memorandum Findings of Fact and Opinion
ARNOLD, Judge:
This case involves an income tax deficiency for 1939 of $8,639.12. The sole issue is whether the gain realized by petitioner on disposition of 600 shares of preferred stock is a short-term capital gain, which is 100 percent taxable, or a long-term capital gain, only 50 percent of which is taxable. The case was presented on stipulated facts and documentary evidence introduced without objection at the...
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