Respondent determined a deficiency in income tax of the petitioners for the year 1948 in the amount of $42,109.63. Several of the adjustments made by respondent have been conceded by petitioners. One issue raised by the pleadings, respecting respondent's disallowance of a claimed deduction for attorney's fees in the amount of $1,000, has been resolved by agreement of the parties.
The questions remaining for our consideration are:
1. Whether the gain on a certain...
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