Hospital Corporation of America and Subsidiaries - Page 2

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               Temporary Income Tax Regs., 52 Fed. Reg. 22775 (June                   
               16, 1987).                                                             
                    Held: Amended sec. 1.448-2T(e), Temporary Income                  
               Tax Regs., 53 Fed. Reg. 12513 (Apr. 15, 1988), is a                    
               permissible construction of sec. 448(d)(5), I.R.C.,                    
               and, therefore, the amount to be excluded from income                  
               for 1987 and 1988 pursuant to sec. 448(d)(5), I.R.C.,                  
               must be calculated as required by the amended temporary                
               regulations.                                                           
                    Held, further:  Medical supplies are a necessary                  
               and vital part of furnishing medical services to Ps'                   
               patients and, therefore, income attributable to medical                
               supplies constitutes income earned from the performance                
               of services for purposes of sec. 448(d)(5), I.R.C.                     
               N. Jerold Cohen, Randolph W. Thrower, J.D. Fleming, Jr.,               
          Walter H. Wingfield, Stephen F. Gertzman, Reginald J. Clark,                
          Amanda B. Scott, Walter T. Henderson, Jr., William H. Bradley,              
          and John W. Bonds, Jr., for petitioners in docket No. 10663-91.             
               N. Jerold Cohen, Randolph W. Thrower, J.D. Fleming, Jr.,               
          Walter H. Wingfield, Stephen F. Gertzman, Reginald J. Clark,                
          Amanda B. Scott, Walter T. Henderson, Jr., William H. Bradley,              
          John W. Bonds, Jr., and Daniel R. McKeithen, for petitioners in             
          docket No. 13074-91.                                                        
               N. Jerold Cohen, Walter H. Wingfield, Stephen F. Gertzman,             
          Amanda B. Scott, Reginald J. Clark, Randolph W. Thrower, Walter             
          T. Henderson, Jr., and John W. Bonds, Jr., for petitioners in               
          docket No. 28588-91.                                                        
               N. Jerold Cohen, Reginald J. Clark, Randolph W. Thrower,               
          Walter T. Henderson, Jr., and John W. Bonds, Jr., for petitioners           
          in docket No. 6351-92.                                                      







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