The respondent determined a deficiency in the income tax of petitioner for the year 1943 in the amount of $11,873.71.
The sole question is whether the petitioner sustained an ordinary loss, deductible in full, or a loss on the sale of a capital asset subject to the limitations imposed on capital losses by section 117 (d) (2) of the Internal Revenue Code, as the result of a sale in 1943 of a seat on the New York Produce Exchange for an amount less than its cost in...
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