Memorandum Findings of Fact and Opinion
LEECH, Judge:
This proceeding involves a deficiency in income taxes for the calendar year 1939 in the amount of $1,320.22. The issues are: (1) petitioner's cost basis for 900 shares of the common capital stock of The Dispatch Printing Company, and (2) whether the amount of $24,706.93, which petitioner received for such shares in 1939, is taxable as a distribution in liquidation or as a long-term capital gain. The case...
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