Memorandum Findings of Fact and Opinion
OPPER, Judge:
Respondent determined a deficiency of $1,105.20 in petitioners' income tax for the year 1949. Petitioners have conceded two issues. The remaining question is whether a loss sustained on the sale of certain real property owned by petitioners constituted a loss incurred in a trade or business or in a transaction entered into for profit so as to be deductible under either section 23(e)(1) or section 23(e...
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