Memorandum Findings of Fact and Opinion
BRUCE, Judge:
Respondent determined deficiences in income tax for the year 1955 against Thomas M. and Marian P. Peters in the amount of $6,130.78, and against Isabel Peters in the amount of $6,540.89.
The sole issue presented is whether the loss of $28,962.39 sustained by petitioners in 1955 upon the sale of 29.216 acres of unimproved real estate owned by them as tenants-in-common constituted an ordinary or...
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