T.C. Memo. 1996-546                                  
                               UNITED STATES TAX COURT                                
                       STANLEY AND JEAN COHEN, Petitioners v.                         
                    COMMISSIONER OF INTERNAL REVENUE, Respondent                      
               Docket No. 3956-93.                 Filed December 18, 1996.           
                                                                                     
               Bernard S. Mark and Richard S. Kestenbaum, for petitioners.            
               Halvor N. Adams III, for respondent.                                   
                       MEMORANDUM FINDINGS OF FACT AND OPINION                        
               BEGHE, Judge:  Respondent determined deficiencies in, and              
          additions to, petitioners' Federal income taxes as follows:1                
               1Unless otherwise indicated, section references are to the             
          Internal Revenue Code in effect for the years at issue, and all             
          Rule references are to the Tax Court Rules of Practice and                  
          Procedure.                                                                  
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