ORDER
This case concerns the issue of whether the appellant taxpayers properly deducted the sum of $62,716 as a casualty loss resulting from the 1968 flooding of their home. The IRS claimed that the actual loss was under $20,000 and assessed a deficiency. The factual issues were joined at trial before the tax court. The tax court judge concluded that the actual deductible loss was $27,500. Taxpayers appealed.
The taxpayers claim that it was an abuse of discretion...
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