Memorandum Findings of Fact and Opinion
Respondent determined deficiencies in income tax of petitioners in the amounts of $12,823.38 for 1959 and $2,344.75 for 1960.
The sole issue is whether gain realized by petitioners from the sale of parcels of real property during the years 1959 and 1960 is taxable as ordinary income or capital gain.
Findings of Fact
Some of the facts have been stipulated, and, as stipulated, are incorporated herein...
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