Memorandum Findings of Fact and Opinion
SCOTT, Judge:
Respondent determined a deficiency of $1,788.82 in petitioners' income tax for the calendar year 1958.
The issue for decision is whether the profit realized by petitioners on the sale of certain pieces of unimproved real estate was ordinary income or capital gain.
Findings of Fact
Some of the facts have been stipulated and are found accordingly.
Walter A. Beers and Margaret...
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