The respondent determined a deficiency in the income tax of the petitioners, Julius Long Stern and Ellen V. Stern, in the amount of $26,638 for the taxable year 1948.
Two of the adjustments made by the respondent are uncontested by the petitioners. The issue left for our decision is whether Julius Long Stern sustained a deductible loss upon the sale of his former residence.
FINDINGS OF FACT.
The petitioners reside at West Dallas, Pennsylvania. They...
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