Respondent determined a deficiency of $14,477.22 in petitioners' income tax for 1952. The questions presented are: (1) Whether certain advances by petitioner to the H & K Manufacturing Company were loans or contributions to capital; (2) if the advances were loans, whether they are to be treated as business or nonbusiness bad debts upon becoming worthless; (3) if treated as business bad debts, whether they became worthless in 1952.
FINDINGS OF FACT.
Petitioners...
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