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is not attributable to a tax shelter within the meaning of
section 6661(b)(2)(C)(ii).
Petitioner does not claim that adequate disclosure for
purposes of section 6661 was made on his or Ballard Marine’s
return, and, consequently, we do not address that issue.
Petitioner does claim that substantial authority supports
his position with regard to the losses from Ballard Marine
disallowed under section 183 (the section 183 losses). We must
decide whether petitioner’s deduction of the section 183 losses
is supported by substantial authority. In evaluating whether a
taxpayer’s position regarding treatment of a particular item is
supported by substantial authority, the weight of authorities in
support of the taxpayer’s position must be substantial in
relation to the weight of authorities supporting contrary
positions. Sec. 1.6661-3(b)(1), Income Tax Regs. An authority
that is materially distinguishable on its facts generally will
have little or no relevance in determining whether substantial
authority supports the tax treatment at issue. Antonides v.
Commissioner, 91 T.C. at 702-704; sec. 1.6661-3(b), Income Tax
Regs. Petitioner sets forth five cases as substantial authority:
Feldman v. Commissioner, T.C. Memo. 1988-126; Slawek v.
Commissioner, T.C. Memo. 1987-438; Zwicky v. Commissioner, T.C.
Memo. 1984-471; Dickson v. Commissioner, T.C. Memo. 1983-723;
McLarney v. Commissioner, T.C. Memo. 1982-461. All of those
cases involve a boat chartering activity and our decision that
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