Memorandum Findings of Fact and Opinion
TIETJENS, Judge:
This proceeding involves a deficiency of $780.75 in declared value excess-profits tax for the fiscal year ended June 30, 1946.
The sole question presented is whether the gains realized by petitioner from the sale of eight defense housing units during the taxable year, are taxable as long-term capital gains or as ordinary income.
Findings...
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