MEMORANDUM FINDINGS OF FACT AND OPINION
COHEN, Judge:
Respondent determined a deficiency of $10,605.50 in petitioners' Federal income tax for 1997. The issue for decision is the amount petitioners are entitled to deduct as a casualty loss due to the destruction of a barn located on property in which petitioner Lee F. McClune (petitioner) held a remainder interest. Unless otherwise indicated, all section references are to the Internal Revenue Code in effect...
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