Memorandum Findings of Fact and Opinion
The Commissioner determined a deficiency in income tax of $8,448.02 for the year 1940. The petitioner claimed a loss due to casualty in the amount of $13,500 in his 1940 return. The respondent allowed a deduction in the amount of $1,500 and disallowed the balance, $12,000. The petitioner asserts error in this respect, now claiming that he sustained a loss of $25,000 and that his taxes for 1940 have been overpaid to the extent...
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