The Commissioner determined a deficiency in petitioners' income tax for the year 1955 in the amount of $6,244.93 and for the year 1956 in the amount of $7,409.52. The question presented is whether petitioner Halsey L. Williams sustained a loss upon the sale of his interests in certain commercial property to the State of California in 1951, and the answer depends upon a determination of his basis in those interests. No question relating to petitioner's right to a carryover...
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