Memorandum Opinion
TIETJENS, Judge:
The Commissioner determined a deficiency in income tax for the year 1952 in the amount of $1,770.04.
The only question for decision is whether or not the cancellation of personal loans of petitioner John Silver, in the amount of $3,000 and the payment of his personal debts in the amount of $2,993.28 by his employer, constitute taxable income of petitioner.
All of the facts are stipulated, are so found,...
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