Edward J. Richardson - Page 1

                                 T.C. Memo. 1995-554                                  


                               UNITED STATES TAX COURT                                


                         EDWARD J. RICHARDSON, Petitioner v.                          
                    COMMISSIONER OF INTERNAL REVENUE, Respondent                      
                         IRENE E. RICHARDSON, Petitioner v.                           
                    COMMISSIONER OF INTERNAL REVENUE, Respondent                      

               Docket Nos. 28363-92, 26019-93.1  Filed November 21, 1995.             

               Maurice P. Wolk, for petitioner Edward J. Richardson.                  
               Albert L. Grasso, for petitioner Irene E. Richardson.                  
               Donna C. Hansberry, for respondent.                                    

                                 MEMORANDUM OPINION                                   
               FAY, Judge:  In the notice of deficiency, respondent                   
          determined deficiencies in and additions to petitioner Edward J.            
          Richardson's (hereinafter Edward) Federal income taxes in the               
          following amounts:                                                          

          1These cases were consolidated for purposes of trial,                       
          briefing, and opinion.                                                      




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