Respondent determined deficiencies in petitioners' income tax liabilities for the fiscal year ended July 31, 1941, of $845.56 in Docket No. 8961 and $845.56 in Docket No. 8962.
The question is whether the profit from the sale of certain real estate, owned by the petitioners as community property, is taxable as ordinary income or as capital gain. The two cases have been consolidated. The record consists of oral testimony and exhibits. Petitioners filed separate returns...
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