SCOTT, Judge:
Respondent determined a deficiency in petitioners' income tax for the calendar year 1961 in the amount of $71,752.08. The issue for decision is whether the amount of a cash distribution made to one of petitioners by an association which is taxable as a corporation constituted ordinary income or long-term capital gain.
FINDINGS OF FACT
Some of the facts have been stipulated and are found accordingly.
Petitioners, husband...
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