William and Joan Spears - Page 70

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          was within the scope of the advisers' expertise, the                        
          interpretation of the tax laws as applied to undisputed facts.              
          In these cases, particularly with respect to valuation,                     
          petitioners relied upon advice that was outside the scope of                
          expertise and experience of their advisers.  Consequently, we               
          consider petitioners' reliance on the Mauerman case inapplicable.           
               We hold that petitioners did not have a reasonable basis for           
          the adjusted bases or valuations claimed on their tax returns               
          with respect to their investments in the Partnerships.  In these            
          cases respondent properly could find that petitioners' reliance             
          on Becker and the offering materials was unreasonable.  The                 
          records in these cases do not establish an abuse of discretion on           
          the part of respondent but support respondent's position.  We               
          hold that respondent's refusal to waive the section 6659 addition           
          to tax is not an abuse of discretion.  Petitioners are liable for           
          the respective section 6659 additions to tax at the rate of 30              
          percent of the underpayments of tax attributable to the                     
          disallowed tax benefits.  Respondent is sustained on this issue.            

                                             Decisions will be entered                
                                        under Rule 155.                               












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