DRENNEN, Judge:
Respondent determined a deficiency in income tax for the taxable year 1954 in the amount of $3,535.89.
There are two issues for decision:
(1) Whether gain realized in 1954 by petitioner Ted Bolnick upon the redemption at face value, by the issuers prior to maturity, of debentures issued in registered form by certain corporations to petitioner at an original issue discount in 1953, constitutes long-term capital gain or ordinary...
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