This case involves income tax for the calendar year 1945. Deficiency was determined in the amount of $5,088.31. The petition places in issue a substantial portion thereof. The question presented is whether the petitioner is entitled to deduction of a net operating loss carry-over from the year 1944, arising from a foreclosure in real estate, which depends upon whether section 122 (a) and (d) (5), Internal Revenue Code, applies. We make the following findings of fact.
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