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Ultimate Findings of Fact . . . . . . . . . . . . . . . 154
Opinion . . . . . . . . . . . . . . . . . . . . . . . . 154
I. Preliminary Issues . . . . . . . . . . . . . . . . . . . 155
A. Burden of Proof . . . . . . . . . . . . . . . . . . 155
B. Evidentiary Matters . . . . . . . . . . . . . . . . 157
C. New Issues Raised by Petitioner on Brief . . . . . . 157
II. Issues 1,2,3, and 6--Commission and Miscellaneous
Income . . . . . . . . . . . . . . . . . . . . . . . . . 160
A. Lockheed . . . . . . . . . . . . . . . . . . . . . . 166
B. Ashland . . . . . . . . . . . . . . . . . . . . . . 170
C. General Motors . . . . . . . . . . . . . . . . . . . 174
D. SEDCO, IMICO, IMISS . . . . . . . . . . . . . . . . 179
E. Ingersoll-Rand . . . . . . . . . . . . . . . . . . . 181
F. Morgan . . . . . . . . . . . . . . . . . . . . . . . 184
G. Harnischfeger . . . . . . . . . . . . . . . . . . . 186
H. Pioneer . . . . . . . . . . . . . . . . . . . . . . 187
I. Galion . . . . . . . . . . . . . . . . . . . . . . . 189
J. Clark . . . . . . . . . . . . . . . . . . . . . . . 192
K. Miscellaneous Companies/Goodyear . . . . . . . . . 197
L. Petitioner's Withdrawals From Bank Accounts . . . . 198
III. Issues 4 and 5--Interest Income on Foreign
Bank Accounts. . . . . . . . . . . . . . . . . . . . . . 201
IV. Issue 7--Amount and Character of Gain on Sale of
Diesel Power Stock . . . . . . . . . . . . . . . . . . . 203
V. Issues 8 and 9--Claimed Reduction in 1979 Reported
Income Under a Claim of Right and Section 1341 Tax
Computation for 1981 . . . . . . . . . . . . . . . . . . 207
VI. Issue 10--Claimed Schedule C Business Expense
Deductions. . . . . . . . . . . . . . . . . . . . . . . 209
A. Cost of Goods Sold . . . . . . . . . . . . . . . . 212
B. Commission Expenses . . . . . . . . . . . . . . . . 212
C. Consulting Fees . . . . . . . . . . . . . . . . . . 216
D. Management Fees . . . . . . . . . . . . . . . . . . 218
E. Legal and Professional Fees . . . . . . . . . . . . 222
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Last modified: May 25, 2011