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Ralph W. Emerson and Suzanne O. Emerson - Page 1

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                              T.C. Memo. 2003-82                                      


                               UNITED STATES TAX COURT                                


               RALPH W. EMERSON AND SUZANNE O. EMERSON, Petitioners v.                
                    COMMISSIONER OF INTERNAL REVENUE, Respondent                      


               Docket No. 5877-00.               Filed March 20, 2003.                


               Thomas Casazza, for petitioners.                                       
               Margaret A. Martin, for respondent.                                    


                       MEMORANDUM FINDINGS OF FACT AND OPINION                        

               COHEN, Judge:  Respondent determined a deficiency of $34,956           
          in petitioners’ Federal income tax for 1998 and a penalty of                
          $6,991.20 under section 6662(a).  The issues for decision are:              
          (1) Whether $90,684 petitioners received from settlement of a               
          lawsuit is excludable from income under section 104(a)(2);                  
          (2) whether the settlement amount is subject to self-employment             





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