Drennen, Judge: Respondent determined a deficiency in petitioners’ income tax for the year 1968 in the amount of $27,090. Petitioners accounted for their income on the cash basis. The deficiency determined by respondent in the notice of deficiency resulted from the disallowance of a deduction for prepaid interest in the amount of $88,021 and disallowance of part of a claimed…
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