Dawson, Judge: Respondent determined a deficiency in petitioners’ Federal income tax for the year 1972 in the amount of $32,640.68. 1 During 1972, Richard C. Goodwin was a partner in two real estate limited partnerships, the Bethlehem Development Co. and D. M. Associates, both of which were formed to construct and operate certain housing projects. Respondent disallowed his dist…
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