This case involves the income tax liability of Maria Assmann, deceased, for the taxable year January 1, 1948, to July 12, 1948. Deficiency was determined in the amount of $7,286.24. The only question for our consideration is whether the sale of certain real estate by her resulted in capital loss, as Commissioner asserts, or in ordinary loss, as contended by the petitioners.
FINDINGS OF FACT.
All facts were stipulated.
The petitioners are the duly...
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