SIMPSON, Judge:
The respondent determined a deficiency of $40 in the income tax of the William A. Clark Trust for the taxable year 1962. The issue for decision is whether the William A. Clark Trust is entitled to a personal exemption of $300 as a trust required to distribute all of its income currently or is entitled to a personal exemption of $100 as a trust not so required.
FINDINGS OF FACT
Some of the facts were stipulated, and those facts...
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