Memorandum Findings of Fact and Opinion
FISHER, Judge:
Respondent determined a deficiency in income tax of the petitioners for the year 1957 in the amount of $3,035.64. The single issue for our determination is the classification of the loss incurred by petitioners arising upon the dissolution and liquidation of Wespen Television, Inc., a corporation formed for the purpose of making application for a television license.
Findings of Fact
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