Memorandum Findings of Fact and Opinion
SIMPSON, Judge:
The respondent determined a deficiency in the petitioners' 1961 income tax in the amount of $20,050.54. The issue for decision in this case is whether the petitioners may deduct certain claimed theft losses.
Findings of Fact
Some of the facts have been stipulated, and those facts are so found.
The petitioners, Stanley J. Prescott and Lucille Prescott, are husband and wife,...
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