The Commissioner determined deficiencies of $707.10 and $40.77 in income tax and declared value excess profits tax for 1942. The only issue for decision is whether the Commissioner erred in adding to income $3,143.80 representing the final balance in a reserve for loss on mortgages at the date of dissolution of the petitioner.
FINDINGS OF FACT.
The petitioner was a corporation. It was organized on January 30, 1936, and was dissolved in 1942. It used an accrual...
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