This proceeding involves an income tax deficiency for 1955 in the amount of $25,885.64. The only question in issue is whether petitioner is entitled to a loss deduction of $43,917.08 claimed on the sale of a tract of real estate which she inherited from her deceased husband. The property in question was valued for estate tax purposes in her husband's estate tax return at $200,000, and was sold approximately 6 months later with certain restrictive covenants for $157,880.<...
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