Memorandum Findings of Fact and Opinion
TIETJENS, Judge:
The respondent determined deficiencies in income tax of $9,053.87 for 1947 and $648.30 for 1948.
Two questions are presented for decision: (1) Whether the gain on the sale of certain real estate constituted ordinary income or capital gain; and (2) whether the petitioners realized taxable income from a transaction in which another member of a joint venture of which the petitioners also were...
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