Memorandum Findings of Fact and Opinion
LEMIRE, Judge:
This proceeding involves a deficiency in the income tax of petitioner for the calendar year 1945 in the amount of $2,261.73.
The issues are (1) whether petitioner sustained a deductible loss on the sale in 1945 of six commercial motion picture photo-plays and the amount thereof; and (2) whether the petitioner is entitled to a deduction of the sum of $400 as ordinary and necessary expenses paid...
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