Memorandum Findings of Fact and Opinion
PIERCE, Judge:
The respondent determined a deficiency in income tax against petitioners for the calendar year 1956 in the amount of $573.38; and the petitioners claim an overpayment of tax for said year of $10,901.61.
The sole issue for decision is whether the capital stock of Arizona Distributors, an Arizona corporation, became wholly worthless in 1956 — so that a loss with respect to shares of such...
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