Memorandum Findings of Fact and Opinion
The respondent determined a deficiency in income tax against petitioner for the year 1943 in the amount of $77,438.18. The year 1942 is also involved due to the Current Tax Payment Act of 1943.
The issues to be decided are: (1) whether petitioner is taxable upon 50 per cent of the net income of a partnership for the years 1942 and 1943; and (2) whether the partnership was entitled to deductions of $9,765 and $10,625...
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