Respondent determined a deficiency in income tax of petitioner for 1952 of $5,232.23. The issues to be resolved are (1) whether the receipt of "debentures" by petitioner from a corporation was essentially equivalent to a dividend, and (2) whether respondent's determination of the basis of petitioner's stock is erroneous.
FINDINGS OF FACT.
Petitioner filed her Federal income tax return for 1952 with the district director of internal revenue at Louisville...
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