Memorandum Opinion
DRENNEN, Judge:
Respondent determined a deficiency in petitioners' income tax for the taxable year 1957 in the amount of $25,015.53.
The only issue for decision is whether petitioners realized ordinary income or capital gain from the sale of lots in a subdivision in Upper Arlington, Ohio, known as Windsor Place Addition Extension No. 1, in 1957. In his notice of deficiency respondent adjusted the basis for computing gain and loss...
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