Memorandum Findings of Fact and Opinion
The Commissioner determined deficiencies of $13,997.60 and $2,016.05 in petitioners' income tax for the calendar years 1964 and 1965, respectively. The questions presented for decision are: (1) whether petitioners may deduct $13,600 as depreciation with respect to the yacht Reveille for the year 1964; (2) whether petitioners are entitled to an investment credit of $7,000 with respect to Reveille for the year...
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