John W. Madden, Jr., et al. - Page 1

                                 T.C. Memo. 1997-395                                  


                               UNITED STATES TAX COURT                                


                    JOHN W. MADDEN, JR., ET AL.,1 Petitioners v.                      
                    COMMISSIONER OF INTERNAL REVENUE, Respondent                      


               Docket Nos.  6639-93, 6696-93,        Filed August 27, 1997.           
                         6697-93, 6698-93,                                            
                         6699-93.                                                     


               Sheldon H. Smith, for petitioners.                                     
               Virginia L. Hamilton, for respondent.                                  


                       MEMORANDUM FINDINGS OF FACT AND OPINION                        

               FAY, Judge:  Respondent determined deficiencies as follows:            

               1Cases of the following petitioners are consolidated here-             
          with for purposes of trial, briefing and opinion:  Museum of                
          Outdoor Arts, docket No. 6696-93; Cynthia Madden Leitner, docket            
          No. 6697-93; Plaza Developers Holdings, LLC, A Colorado LLC,                
          docket No. 6698-93; Marjorie P. Madden, docket No. 6699-93.                 




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