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Determination of whether petitioner is entitled to such
deduction is based upon facts and circumstances which are not
before the Court. Granting of the motion for summary judgment
with respect to this issue would be premature, because material
issues of fact exist, not the least of which is whether
petitioner was engaged in his activity as an investor or trader.
We therefore shall deny petitioner’s motion for summary judgment
as to whether he is entitled to an ATNOL deduction under section
56(d).
In reaching our holdings herein, we have considered all
arguments made, and to the extent not mentioned above, we
conclude that they are moot, irrelevant, or without merit.
To reflect the foregoing,
An appropriate order
will be issued.
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Last modified: May 25, 2011