Memorandum Findings of Fact and Opinion
DRENNEN, Judge:
Respondent determined a deficiency in petitioner's income tax for 1967 in the amount of $40,321.44. At issue is the amount of gain petitioner must report for tax purposes for 1967 incident to the sale in that year by her wholly owned corporation of an apartment house, followed by the liquidation of the corporation. Petitioner reported as long-term capital gain on the installment method the amount of...
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