Memorandum Findings of Fact and Opinion
OPPER, Judge:
Respondent determined a deficiency in income tax for the calendar year 1949 in the amount of $723.72.
The only issue is whether petitioner realized ordinary income or long-term capital gains from the sale of certain real estate during 1949.
Findings of Fact
Petitioner was incorporated on June 24, 1925 under the laws of Louisiana. Its return for 1949 was filed with the collector...
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