Memorandum Findings of Fact and Opinion
FORRESTER, Judge:
Respondent has determined a deficiency in petitioners' Federal income tax for the calendar year 1975, in the amount of $9,210.02. The issues for decisions are: (1) whether petitioners incurred a casualty loss in 1975 from the theft of a stamp collection; (2) whether petitioners recognized income from the receipt of funds and cancellation of indebtedness in settlement of a lawsuit; and (3) whether...
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