Dwight L. McKenna and Beverly S. McKenna - Page 1

                                        T.C. Memo. 1998-45                                              


                                     UNITED STATES TAX COURT                                            


                 DWIGHT L. MCKENNA AND BEVERLY S. MCKENNA, Petitioners v.                               
                        COMMISSIONER OF INTERNAL REVENUE, Respondent                                    



                  Docket No. 26334-92.                       Filed February 5, 1998.                    


                  Edward B. Mendy, for petitioners.                                                     
                  Kathleen O. Lier, for respondent.                                                     



                            MEMORANDUM FINDINGS OF FACT AND OPINION                                     
                  WRIGHT, Judge:  Respondent determined deficiencies in                                 
            petitioners' Federal income taxes and additions to tax, as                                  
            follows:                                                                                    
                                    Additions to Tax                                                    
            Year Deficiency Sec. 6653(b)(1)(A) Sec. 6653(b)(1)(B) Sec. 6653(b)(1) Sec. 6661             
            1987  $67,485         $50,614               1                           $16,871             
            1988   49,419     $37,064       12,355                                                      
            1 50 percent of the interest due on $67,485.                                                


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