OPINION.
JOHNSON, Judge:
Respondent has determined a deficiency of $353,663.46 in petitioners' income tax for the calendar year 1944.
The sole issue before us is whether the compromise of an indebtedness, evidenced by two notes, resulted in a reduction of basis of common stock; the stock was originally deposited as collateral security, later withdrawn, and after the compromise sold. Respondent made certain other adjustments to the petitioners...
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