Memorandum Findings of Fact and Opinion
WILES, Judge:
Respondent determined a deficiency of $163,592.00 in petitioners' 1972 Federal income tax. After concessions, the sole issue is whether petitioners, as cash method taxpayers, may deduct the cost of cattle feed in the year of purchase and payment where the feed was not completely consumed until the following year.
Findings of Fact
Some of the facts have been stipulated and are found accordingly...
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