This proceeding involves an income tax deficiency of $118.91 for the year 1941. By amended answer respondent sought an increase of $26 in deficiency, but on brief has waived this issue. Petitioners not only challenge the deficiency, but claim an overpayment in tax for the year in the amount of $100.25.
The issue to be decided is whether respondent erred in denying a deduction for depreciation to one of the petitioners, a life beneficiary of a testamentary trust, on...
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