Respondent determined a deficiency in petitioner's income tax for the calendar year ended December 31, 1938, in the amount of $17,788.58.
The issues are: (1) Whether petitioner's gain on the sale of land and a building erected thereon by her lessee is to be computed by including in the basis thereof the fair market value of the building when acquired by her in 1929 on repossession of the land and, if so, what that fair market value was; (2) whether the cost basis...
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