Memorandum Findings of Fact and Opinion
The respondent determined a deficiency in income tax for the year 1945 amounting to $463.13. The principal question is whether or not stock of the Brownfield Coal Company became worthless in 1945. In his tax return for that year, the petitioner claimed a deduction of $25,000 as a long-term capital loss under section 23 (g) (2) of the Internal Revenue Code.
Findings of Fact
In March of 1944 Alton Ramsey, the...
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